Argentina seeks to solve trade differences with China

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(Xinhua)
Updated: 2009-10-16 22:41

BUENOS AIRES: Argentina would look at ways to negotiate a solution to trade differences with China, high-level Argentine sources said Wednesday.

The news came after Chinese Vice Commerce Minister Chen Jian met secretary of Economic and International Commerce Affairs of the Argentine Foreign Ministry Alfredo Chiaradia, during which they discussed a series of issues including the trade barriers.

Chen requested Argentina to review obstacles the South American country has set for Chinese exports, official sources said.

The Argentine government had set measures against Chinese products "to protect local production," which resulted in a 20 percent fall in Chinese imports in the first six months of this year compared with the same period of 2008.

More than 350 products, or 12 percent of all Chinese imports, including sports shoes, screws, children's clothes and toys, have been affected by the Argentine move.

At the end of the meeting, Chiaradia told Xinhua the Chinese side was advised that Argentina "set those fees temporarily due to the (global financial and economic) crisis, which affected international trade last year."

The measures "are not particularly against China," Chiaradia said.

He said the visit of the Chinese delegation to Argentina was important, adding "the potential for both countries is very big, that is why we discussed various topics during the meeting."

Chiaradia said they "reviewed the bilateral ties and the great growth potential for both countries from mutual investments."

Both countries were interested in developing joint investments in areas such as forestry, mining and infrastructure in general, because "we need to increase and diversify exports," Chiaradia said.

Bilateral trade between Argentina and China grew at an annual average of 34 percent between 2003 and 2008, hitting 14.4 billion U.S. dollars in 2008.

Chen arrived in Buenos Aires to attend the Infrastructure Cooperation Forum between China and Argentina, which started on Tuesday and ended on Wednesday.