November 22, 2017

Bill receives preliminary approval

Tuesday, December 30, 2014

Opposition criticizes alleged benefits of China deal

In addition to debating the Parlasur measure, the ruling Victory Front (FpV) senators also gave preliminary approval to a number of cooperation and investment agreements with China that were widely criticized by opposition members.

The measures were passed with 36 votes in favour and 13 against. Opposition members challenged the alleged benefits given to the the Asian giant as part of the agreement.

The main deal involved a general regulatory framework for Chinese investments in Argentina, originally signed in July 18 during the visit of Chinese President Xi Jinping.

This accord allows direct purchases for infrastructure projects, immediate access to funds from Chinese banks and residence permits in order to help the development of planned investments.

Kirchnerite Senator Ruperto Godoy, who chairs the Senate Foreign Relations Committee in the Upper House, said the deal was meant to lead “to greater cooperation between Chinese and Argentine firms in order to sustain growth in both countries.”

The accord, he said, takes into account the “energy, mining and agricultural areas” among other issues.

But Radical (UCR) party representative Mario Cimadevilla said the move was “a new kind of imperialistic approach” by the Asian country and warned of the “disadvantageous terms” of the agreement.

PRO Senator Diego Santilli said rules regarding allocation of jobs were “unclear,” after which FpV representatives ammended the questioned article.

Miguel Ángel Pichetto, the leader of the Kirchnerite caucus in the Upper House, took an ironic tone to criticize the negative vote by PRO senators.

“The father of one of the presidential hopefuls has been doing business with China for years and the representatives from that party are voting against the bill,” Pichetto said.

He was referring to Buenos Aires City Mayor Mauricio Macri, whose father Franco Macri has signed several deals with Chinese companies.

Herald staff with online media

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