Indian External Affairs Minister Subrahmanyam Jaishankar visited Argentina Aug. 25-26, the last leg of a Ibero-American tour which also took him to Brazil and Paraguay. In Buenos Aires, he met first with President Alberto Fernández, accompanied by Foreign Minister Santiago Cafiero, to discuss the potential for expanded trade and cooperation in a variety of fields, with a goal of surpassing the $6 billion in bilateral trade reached in 2021. Following the meeting, Cafiero commented that one of the topics of discussion was Argentina’s possible entry into the BRICS (Brazil Russia, India China, South Africa), “to strengthen an agenda for the Global South without the polarization” that adds to world tension.
For his part, Jaishankar noted, that “in terms of the polarization seen today, countries like India and Argentina that have an independent point of view can work more closely together.” A communiqué issued by Argentina’s Foreign Ministry reported that Jaishankar “ratified his country’s support for Argentina’s entry into the BRICS, to contribute in this way to strengthening and amplifying a voice in defense of the interests of the developing world and the Global South, in the context of great world uncertainty and polarization.”
The Joint Commission Meeting between Argentina and India that took place on Aug. 26 focused on an array of specific areas in which the two nations intend to expand their bilateral cooperation, with a special emphasis on advanced technology, in defense, peaceful uses of nuclear energy, aerospace, information and communications technology, food security and agro-industry, and also including oil and gas, and strategic minerals. Argentina hopes to attract Indian investors in many of these areas. At the end of their day-long meeting, the two parties signed a Memorandum of Understanding on cooperation in the area of Mineral Resources.
The joint press statement signed at the end of the meeting also states that the two will ask their central banks to “carry out studies for the development of a payment mechanism in local currencies with the aim of providing companies with an instrument to facilitate bilateral trade, in a framework of mutual benefit.”
Cafiero also told Jaishankar that Argentina is interested in establishing ties between India and the Community of Latin American and Caribbean States (CELAC), of which Argentina is the rotating president. (https://www.mea.gov.in/bilateral-documents.htm?dtl/35654/Joint+Press+Statement+following+the+Joint+Commission+Meeting+between+India+and+Argentina+August+26+2022 )
