Thursday, May 12, 2011

China to purchase 500,000 tons of soy bean oil from Argentina

After meeting with President Cristina Fernández de Kirchner in the Government House, Foreign Minister Héctor Timerman and Chinese Trade and Commerce Minister Chen Deming announced during a joint press conference that China would be purchasing 500,000 tons of soy bean oil from Argentina, seemingly putting behind a bilateral conflict that was affecting trade between both countries since 2009.

Earlier, Foreign Minister Héctor Timerman met with Deming, who had arrived to the country following the invitation given to him by President Cristina Fernández de Kirchner last July, during her last official visit to Beijing.

During their meeting which began at 11.30AM in the Palacio San Martín, the signing of a Memorandum for an understanding toward Investment Promotion took place.

International Trade and Economic Relations Secretary Luis María Kreckler and the director of the Chinese Agency for Investment Promotion abroad were also present in the meeting.

The signing of the memorandum is complimentary of Fernández de Kirchner’s presidential visit last year, which pushed forward a premise for the diversification of bilateral commerce, to make it balanced for both Argentina and China; promoting a new era in bilateral relations and an increase in investment.

After the meeting, Timerman and Chen are to hold a press conference from the Foreign Office.