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Argentina and China signed cooperation agreements on transportation, energy and IT

Minister Caputo met with representatives of the China Development Bank to execute financing agreements for Belgrano Cargas.

The Minister of Finance, Luis Caputo, continued this Wednesday his agenda in China together with the team that accompanies President Mauricio Macri in his State visit. They participated in protocol ceremonies, working meetings between both countries’ teams and in the execution of cooperation agreements between the Argentine Republic and the People’s Republic of China.

Within that framework, Macri and the President of China, Xi Jinping, led the execution of the agreements on different areas such as investment in transportation, energy and IT. The documents are aimed at contributing to the development of economic relations between both countries.

In that sense, Caputo signed a memorandum of understanding with the President of China Development Bank (CDB), Zheng Zhijie, for the rehabilitation project of Belgrano Cargas (II) railway.

The Asian bank will finance the acquisition of railway equipment, works and services for a narrow-gauge train with a total extension of 1,400 km. The Belgrano Cargas (II) initiative connects the Provinces of the Mesopotamia area.

CDB was founded in 1994 and it is the biggest Chinese bank for foreign investment and financial cooperation. Over the last years, it has developed relations with 707 banks of 106 countries and regions, focusing on Latin America.

In addition, the Chief of Cabinet of the Ministry of Finance, Pablo Quirno, signed together with the Undersecretary of Economic Relations, Horacio Reyser, and Wang Xiaotao, the 2017-2021 China-Argentina comprehensive five-year plan for cooperation in infrastructure.

Finally, this Thursday, the Argentine team will travel to Japan to participate on Friday in the Argentina-Japan Business and Investment Forum “Partners for the development”, at which Minister Caputo will give a speech after President Macri’s exhibition.