With the newly-elected government in Argentina opening up its economy, India is eyeing a huge infrastructure windfall in the country. A mega delegation from India will be visiting Buenos Aires next month to participate in the first-ever International Business and Investment Forum.
Senior officials from the ministry of external affairs, ministry of commerce and industry as well as representatives from sectors such as automobile, mining, railways, infrastructure, tourism, agro-businesses and oil and gas exploration will travel to the South American nation for the event. The four-day forum that kicks off on September 12 will host 1,500 global businessmen, investors and political leaders.
Spearheaded by Argentina President Mauricio Macri, the forum is said to “mark the country’s return to international markets”. In a recent statement, Macri had said, “Our main goal is to create jobs for our people, and attracting foreign direct investment from countries such as India is a key element towards that goal.”
India is already the second largest recipient of Argentina’s exports to Asia. Alejandro Zothner Meyer, the Acting Consul General of Argentina in Mumbai, says, “Indian delegates can meet and network with international as well as domestic business players, share their perspective with the already-active businesses and be a part of Argentina’s growth story via investments and joint ventures.”
India and Argentina have been traditionally cooperating in the areas of food security, energy security, science and technology, oil and gas, and space sector, among others. Currently, India’s major imports from Argentina include soybean oil, petroleum, copper, sunflower oil, leather and wool, while exports include vehicles and auto-parts, IT, pharma, lubricants, machinery and garments.
Organised by the Argentina Investment & Trade Promotion Agency, the forum comprises plenary sessions, thematic conferences, bilateral meetings and networking opportunities, giving the participants a chance to interact with senior government officials, state governors and local business leaders to explore new investment opportunities.