China has welcomed Argentina into its global Belt and Road Initiative as President Xi Jinping capped a weekend of frenetic diplomatic activity on the sidelines of the Winter Olympics. China and Argentina have inked an agreement on “jointly promoting the construction of the Silk Road Economic Belt and 21st Century Maritime Silk Road”, marking Argentina’s entry into the initiative, state broadcaster CCTV reported on Sunday.
China’s BRI is a trillion-dollar push to improve trade links across the globe by building landmark infrastructure, and the inclusion of Argentina is a major win for Beijing in Latin America. Chinese companies invested more than $20 billion in non-financial direct investment on projects in BRI countries in 2021, according to China’s commerce ministry.
The deal came as Argentine President Alberto Fernandez made a three-day visit to China during which both sides also said they would continue to support each other on issues concerning sovereign interests.
Retrieved from https://www.trtworld.com/business/argentina-joins-china-s-trillion-dollar-belt-and-road-initiative-54466 (11 February 2022)