Argentina’s President Visit to India | 19 Feb 2019

President of Argentina Mauricio Macri paid a state visit to India.

  • 2019 is the 70th year of establishment of diplomatic relations between the two countries.

India-Argentina Relations

  • Political Ties
    • India opened a trade commission in Buenos Aires in 1943, which was later converted into the embassy of India 1949.
    • During the visit, both countries decided to elevate cooperation to a strategic partnership with a focus on key areas for the prosperity of both countries.
  • Counter-Terrorism
    • India and Argentina issued a separate joint declaration to fight terrorism.
    • Argentina condemned the recent terrorist attack in Pulwama, Jammu and Kashmir in the strongest terms.
    • Both countries reiterated their commitment to combat terrorism in all its forms and manifestations and gave a call that any country must not allow their territory to be used to launch terrorist attacks on other countries.
    • India also urged to implement the 11-point agenda of 'Hamburg Statement on countering terrorism’ which was agreed during G-20 Summit in 2018.
  • Economic and Commercial Engagement
    • In the last 10 years, the bilateral trade has more than doubled and is around the US $ 3 billion.
    • There are possibilities for a significant increase in many sectors such as agriculture, metals, and minerals, oils and gas, pharmaceutical, chemicals, motor vehicles and services.
    • India and Argentina decided to work together to further enhance and diversify trade and investment by eliminating impediments, facilitating greater market access and promoting trade and investment.
  • Agriculture
    • Argentina is the powerhouse of agriculture. India sees it as an important partner for its food security.
    • During the visit, both countries decided to enhance the scope of agricultural cooperation, including the exchange of technology to increase productivity, reduce post-harvest losses and build climate resilience.
  • Mining
    • Argentina is a part of the Lithium Triangle, and it has approximately 54% of the world's lithium reservoir.
    • India’s public sector mining company, Khanij Bidesh India Limited (KABIL), has decided to establish a joint venture for the lithium mining in Argentina
  • India-Mercosur
    • India was the first country to sign a Preferential Trade Agreement with MERCOSUR in 2004.
    • Argentina and India agreed to expand the PTA.

MERCOSUR

The Southern Common Market (MERCOSUR for its Spanish initials) is a regional integration process, initially established by Argentina, Brazil, Paraguay, and Uruguay, and subsequently joined by Venezuela and Bolivia.

  • International Cooperation
    • Argentina has played a major role in India’s accession to the various non-proliferation regimes, including the Missile Treaty Control Regime, Wassenaar Arrangement, and Australia Group.
    • India and Argentina reaffirmed their commitment to globalization and reformed multilateralism.
    • Both sides agreed to work together for reforms in World Trade Organization (WTO) and comprehensive reform of the UN Security Council.
  • South-South Cooperation
    • India will be participating in the second high-level conference of the United Nations on South-South Cooperation in Buenos Aires in 2019 (BAPA+40).
  • Other Memorandum of Understanding (MoU) cover the areas like Defence Cooperation, Space Cooperation, Nuclear Energy, Oil and Gas, Renewable Energy, Education, Culture, People to People Exchanges etc.