On the other hand, there is a second platform – apart from the IFyR – where a significant number of projects and investments are included. This platform is called “Strategic Dialogue Mechanisms for Economic Cooperation and Coordination” which, within the framework of its fifth meeting, outlined the main infrastructure investment projects to be carried out in our country and identified areas to promote Chinese direct investment. .
presidential signature
In adherence to the memorandum of the “fringe” and the “silk road”, thirteen inter-institutional cooperation documents were signed in different fields and between different counterparts, referring to matters such as green development, the digital economy, the space area , technology and innovation, university education and cooperation, agriculture, earth sciences, public media and nuclear energy.
According to Casa Rosada, they imply investments and financing for US$9.7 billion.
To take a reference, according to numbers calculated by the Chinese university system, during 2021 the IFyR involved investments of almost US$60,000 M from China with some 145 countries. Of that total, some US$14,000 M were pure investment and some US$46,000 M in loans, many of them funded by the Asian Infrastructure Investment Bank, based in Beijing and to which Argentina has already joined thanks to the efforts of the hyperactive ambassador in Beijing Sabino Vaca Narvaja.
Strictly speaking, a good economic approach to the subject could segment the IFyR initiative into two central issues. On the one hand, cooperation and connectivity via land (the so-called “Economic Belt of the Silk Road”) and another transoceanic (which could be called the “Maritime Silk Road”), with various corridors, with various sectoral records, from issues related to the environment, through infrastructure, digital, etc.
Argentine Foreign Minister Santiago Cafiero has been one of the main promoters of said agreement. According to reports, the diplomat seeks a deepening of the bilateral economic relationship in order to generate a permanent discussion environment. As a distinctive feature, the government let it be known that funding was especially sought for infrastructure works, an increase in the participation of Argentine suppliers in these works and an increase in Foreign Direct Investment (FDI) in Argentine strategic sectors (energy, electromobility, among others). others). The other central objective of Alberto Fernández’s efforts in Beijing was the commitment to reduce the trade deficit with China through the expansion of exports to that country.
Complement of what was agreed
As was said, there is a second cooperation scheme, which implies, according to the government, some US$14,000 M, which is under the mechanism called “Strategic Dialogue for Economic Cooperation and Coordination” (DECCE). Apart from the geopolitical objectives of the Asian giant, keep in mind that China is deficient in the production of energy, food and minerals, sectors in which Argentina could soon stand out worldwide. That is one of the great engines of the agreement.
Among the projects that will be signed, is not only the well-known Santa Cruz River Hydroelectric Power Plant, “Néstor Kirchner and Carlos Cepernic” Dams, but also the rehabilitation of the Belgrano Cargas Norte Railway and the San Martín Cargas (in the first 2 stages) . In addition, the AMBA Electric Power Transmission Lines project, the expansion of the Cauchari Solar IV YV Photovoltaic Park, the announced IV Nuclear Power Plant and the “Cerro Arauco” Wind and Solar Park are added.
A relevant point is that the agreement will allow Argentina to start the second stage in the construction of the Transportar.Ar Gas Pipeline, which connects Vaca Muerta with the province of Santa Fe, and whose first stage was financed by the Argentine government.
Source: Ambito
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