Argentina to boost trade ties with China

BUENOS AIRES - Argentina has "big trade" with China and is willing to strengthen the relations between the two countries, Chief of the Cabinet of Ministers Jorge Capitanich said on Thursday.

At a press conference, Capitanich said he had discussed with Chinese Ambassador to Argentina Yin Hengmin on Wednesday bilateral ties.

"We have big trade with China," he said, adding that Argentina is looking forward to "promoting foreign direct investment from Chinese investors."

Since the establishment of the strategic partnership between China and Argentina in 2004, all-around development of bilateral relations have entered a new stage. In 2012, two-way trade amounted to around $14.5 billion.

"We have a deficit in the balance of trade with China amounting to $4.07 billion. We want to improve that balance and generate conditions of sustainability for the trade between the two countries," Capitanich said.

China has become the second-largest trading partner of Argentina, while the South American country is the sixth-largest trading partner of China in Latin America.