2023-06-05 22:15:34
It was confirmed by its ambassador to Argentina, Dinesh Bhatia, who also highlighted the opportunities for the mining and energy sectors.
Sergio Massa took from China the commitment on the part of the president of the bank of the BRICS, Dilma Rousseff, to discuss Argentina’s entry into that entity at a summit to be held in August. To the support that the Government has already received in Beijing and Brazil, a third party is added. In the last few hours the Indian ambassador in Buenos Aires, Dinesh Bhatia, anticipated that his country will support the Argentine entry to the bloc of developing nations: “As far as Argentina’s desire to join the BRICS is concerned, India will extend its support,” he said in an interview.
Entry to the block would also give the right to access the lines of credit from the New Development Bank of the bloc from emerging countries, which has a financing program of more than US$30,000 million until 2026. In addition, this entity might be key to unlock the financing mechanism that the Government has been negotiating with Brazil to pay for imports from the main trading partner within a term close to 365 days.
On this point, what is specifically sought is for the BRICS Bank to grant the guarantees that the financial entities of the neighboring country have been requesting to advance with the commercial credit that Alberto Fernández and Lula da Silva have been negotiating since the beginning of this year and which so far seems difficult to apply. According to what the government says, this might bring relief to the Central Bank’s reserves and speed up industrialists who require inputs, especially in the automotive sector.
The Indian ambassador stressed in these hours that “regarding Argentina’s desire to join the BRICS, India will extend its support,” he said in an interview with the Buenos Aires Times. Last September, this medium anticipated China’s efforts to add Argentina to the bloc. Since Lula came to power at the beginning of the year, it has been known that Brazil will support the initiative. Hence it would already officially have the support of three of the five nations. The other two, South Africa and Russia, have not yet expressed themselves on the matter..
“We have investments all over the place and we are eager to invest in Argentina,” Dinesh Bhatia said. Along these lines, he highlighted the opportunities that the country offers in mining matters and a bilateral cooperation agreement for the sector that was signed in August of last year. The efforts of the diplomat who has been installed in Buenos Aires for four years now involve attracting investment from the private sector: “Lithium, oil and gas are areas of growing interest,” said Bhatia.
Trade between Argentina and India has been growing rapidly. She doubled in just three years. It went from $3 billion in 2019 to $6.4 billion last year. The expectation is that the link with the country that now occupies the third place in the table of the main commercial partners, continues to grow.
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