China, Argentina to sign 30 pacts during Xi’s visit to Buenos Aires

China, Argentina to sign 30 pacts during Xi's visit to Buenos Aires 

Chinese President Xi Jinping (R) and Argentina’s President Mauricio Macri attend a signing ceremony at the Great Hall of the People in Beijing, China May 17, 2017. EPA-EFE/DAMIR SAGOLJ / POOL

Beijing, Nov 8 (efe-epa).- China and Argentina are set to sign about 30 agreements during the Chinese president’s upcoming visit to the South American country for the G20 summit, the Argentinian ambassador in Beijing said on Thursday.

The summit of the 20 major economies will be held between Nov. 30 to Dec. 1 in Buenos Aires and Xi Jinping is expected to use the occasion to meet his Argentinian counterpart Mauricio Macri.

Xi will sign “around 30 agreements” across various sectors during his visit to Argentina, Ambassador Diego Ramiro Guelar told reporters in Beijing after a conference on Argentina’s macroeconomic prospects.

He said ties with China were very important for Argentina since it is the biggest investor in the country and, aside from the International Monetary Fund, its main creditor.

“China is our second biggest market after Brazil. Our central banks have very good relations. We have big (Chinese) banks in Argentina, such as ICBC and since last month, the Bank of China,” Guelar said.

“Currently, we have a very active Chinese presence. Some of the big Chinese companies are already present in Argentina,” he said, highlighting renewable energy and railways as some of the sectors with Beijing’s presence.

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