Mauricio Macri has signed an ambitious agreement with India to revive economic relations

In the course of a meeting during which he put forward the "good chemistry" of heads of state Mauricio Macri and Narendra Modi, India and Argentina They have come forward today in an ambitious document that includes agreements ranging from concordant themes, such as multilateralism or the fight against terrorism, to sensitive areas of bilateral relations such as the insertion of the international community. Indian pharmaceutical industry in our country or the development of nuclear energy. competitive.

Along an agreement of 48 points sealed in New Delhi, Macri and Modi are committed to strengthen business relations as part of the celebrations of the 70th anniversary of the establishment of diplomatic relations between Argentina and the Republic of India.

Shortly after the dinner of honor offered to Macri, the President of India, Ram Nath KovindPrime Minister Modi had official talks with the Argentine President to "a warm and friendly atmosphere", according to the common document.

In this environment, the idea of "deepen and revitalize multifaceted relations between India and Argentina". Is the trade balance between the two countries today it does not exceed 3,000 million dollars and is favorable to our country. Argentina sold between 2017 and 2018 about 1,200 million dollars to India, concentrated to more than 90% in a single product: soybean oil. And imported from there precious stones, refined oil, cars, chemicals, medicines, iron and steel.

In this sense, Argentina's trade balance with Vietnam is greater, which is Macri's next destination for this tour. For this reason, the idea of ​​going beyond the current links between India and Argentina in figures and facts was illustrated.

Of the 48 points in the agreement signed by Modi and Macri, there is a sensitive issue such as defense cooperation. No details have been given, but Heads of State have instructed their relevant ministries to work on "solid implementation"As you may have known Infobae, this will include purchase of weapons in India and sale of aeronautical equipment manufactured at FADEA.

With regard to the peaceful use of space exploration, the two governments are committed to seeking cooperation in the field of satellite remote sensing, including data exchange, application development, calibration and validation experiments.

On another very sensitive issue for bilateral relations such as the peaceful use of nuclear energy, both governments have advanced in the so-called "Molly fission project", the molybdenum plant built by Argentine company INVAP, with a final target for 2020, is the Argentine plant in Mumbai.

There were complete coincidences between Macri and Modi in the need for fight "resolutely and unequivocally the threat of terrorism"

With regard to the central axis of relations such as the trade and investmentHeads of State committed themselves to "removing obstacles, facilitating a better access to the market and promotion of trade exploit its economic complementarity ".

Therefore the Argentina will seek to import a large number of products from the food chain and agricultural machinery into India. In return, India has entered a sensitive but central issue to its economy, such as the pharmaceutical industry.

In this way, the need to speed up the signing of the "Bilateral investment treaty and agreement to avoid double taxationbetween the two countries, with a view to initiating cooperation between India and Argentina in the infrastructure sector, particularly on roads, motorways, ports and bridges, among others, the two parts They encouraged Indian and Argentinean companies to explore partnerships, including through PPP..

At point medicine industry It was clear that India needed to develop enabling instruments such as the Memorandum of Understanding on Cooperation in the Field of Medical Product Regulation, which facilitates, inter alia, the exchange of information. information on procedures for the inspection and registration of pharmaceutical products.

In this regard, qualified sources from the Ministry of Foreign Affairs have stated Infobae that India has long claimed that Argentina achieves a greater openness of Hindu remedies. The delegation of Argentina pointed out in New Delhi that since 2014, India was on the list of countries in Annex 2 of its presidential decree which has a mechanism for the introduction of Indian drugs on the Argentine market.

However, this would not be enough: the idea of ​​manufacturing drugs directly in Argentina in partnership with local partners is explored.

Recognizing the importance of the agricultural sector in their countries, Macri and Modi stressed that the conclusion of the Work plan on agro-industrial cooperation "This will enhance the scope of agricultural cooperation between India and Argentina, including through the exchange of technology to increase productivity." They will also accelerate sanitary and phytosanitary approvals products of common interest by the respective regulatory authorities and improve market access.
Argentina has expressed interest in Export more oranges, mandarins, grapefruit, grapes, blueberries, walnuts, yerba mate and sesame seeds and, in India, rice, onions, potatoes, pomegranate, grapes, bananas, mangoes, poultry and.

The Argentine authorities have informed the Indian side of the utility of the multipurpose vaccine "Bío haja" against anaplasmosis and bovine babesiosis developed by INTA (National Institute of Agricultural Technology, Argentina).

As for the oil and gas agreements, the two sides agreed to explore opportunities for cooperation in the field of conventional and unconventional resources and the entire hydrocarbon value chain. India has every interest in importing more oil from Argentina because it does not produce this fuel and has shown interest in invest the region of lithium and copper in Argentina. Thus, it has conveyed its goal that at least 30% of its vehicles be powered by electric batteries by 2030, which depend to a large extent on lithium. Khanij Videsh India Limited (KABIL), three public sector mining companies, have already expressed interest in lithium mining in Argentina.

The chapter of Renewable energy is also crucial between the two countries, since India has invited Argentina's collaboration to reach its goal of 175 GW of renewable energy by 2022. The Argentine side has invited Indian companies to participate in its RenovAR renewable energy program.