PM, Argentine Prez agree to diversify bilateral trade basket
Prime Minister Narendra Modi and Argentine President Javier Milei on Saturday agreed to diversify India-Argentina trade basket and vowed to expand cooperation in a range of critical areas such as defence, security, energy and minerals. In their wide-ranging talks, the two leaders emphasised on boosting defence cooperation between the two countries as it will serve each other’s strategic interests.
Modi arrived in Buenos Aires on Friday on a two-day trip in the third leg of his five-nation tour. Though Modi visited Argentina in 2018 to attend the G20 Summit, it is the first bilateral visit to the South American country by an Indian prime minister after a gap of 57 years.
In a social media post, Modi said he and President Milei discussed ways to diversify trade ties and enhance cooperation in sectors such as agriculture, defence, security and energy.
“There is immense scope in areas like pharmaceuticals and sports as well,” he said. The PM described his meeting with Milei as “excellent”.
“We are marking 75 years of India-Argentina diplomatic relations and 5 years since we elevated our relationship to a Strategic Partnership," the PM posted on X.
The India-Argentina bilateral trade has been on an upswing. The trade volume more than doubled in three years from 2019 to 2022, peaking at $6.4 billion in 2022. In 2021 and 2022, India was Argentina’s fourth largest trading partner. In 2024, total annual bilateral trade between India and Argentina was $5.23 billion, positioning India as Argentina’s fifth-largest trading partner and export destination. — PTI
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