The Argentinean President, Mauricio Macri, recently journeyed to India on a state visit. This year marked the commemoration of seven decades since the two countries established diplomatic ties. The visit was an opportunity for both countries to refocus their efforts towards enhancing bilateral cooperation in various areas for each nation’s welfare.
India-Argentina Relations: A Historical Perspective
India and Argentina have a long-standing diplomatic relationship dating back to the 1940s. In 1943, India opened a trade commission in Buenos Aires, which was later converted into an embassy in 1949. During the recent visit, the decision was made to elevate their cooperation to that of a strategic partnership, primarily focusing on vital sectors that ensure mutual growth.
Joint Stance against Terrorism
Amidst these discussions, India and Argentina also decided to unite in fighting terrorism. Both nations issued a joint declaration denouncing terrorism in all its manifestations. They further emphasized that no country should let its territory be used to launch terrorist attacks on other nations. Argentina openly censured the terrorist attack in Pulwama, Jammu and Kashmir. Meanwhile, India advocated for the implementation of the “Hamburg Statement on countering terrorism,” an 11-point agenda agreed upon during the G-20 Summit in 2018.
Bilateral Trade and Commercial Engagement
Trade between India and Argentina has more than doubled in the last ten years, now worth around US $3 billion. There are numerous opportunities for further growth in sectors like agriculture, metals, minerals, oils and gases, pharmaceuticals, chemicals, motor vehicles, and services. Both nations expressed their intention to enhance and diversify trade and investments—to facilitate greater market access and promote commercial exchanges.
Agricultural Endeavors
Argentina, known for its agricultural prowess, is viewed by India as a significant partner for achieving food security. Following the state visit, both nations decided to augment the scope of their agricultural cooperation, which includes the exchange of technology to increase productivity, reduce post-harvest losses, and build climate resilience.
Joint Mining Ventures
Argentina is part of the ‘Lithium Triangle,’ housing approximately 54% of the world’s lithium reserves. The Indian public sector mining company, Khanij Bidesh India Limited (KABIL), has planned to establish a joint venture for lithium mining in Argentina.
India-Mercosur Relations
In 2004, India became the first country to sign a Preferential Trade Agreement (PTA) with MERCOSUR, the Southern Common Market. Following President Macri’s visit, India and Argentina agreed to expand the PTA.
Mercosur: A Snapshot
MERCOSUR, known as the Southern Common Market, is a regional integration process initially established by Argentina, Brazil, Paraguay, and Uruguay, later joined by Venezuela and Bolivia.
| Founding Members | Late Joiners |
|---|---|
| Argentina | Venezuela |
| Brazil | Bolivia |
| Paraguay | – |
| Uruguay | – |
International Cooperation and South-South Cooperation
Argentina has played a pivotal role in India’s accession to various non-proliferation regimes, including the Missile Treaty Control Regime, Wassenaar Arrangement, and Australia Group. Both nations reiterated their commitment to globalization and a reformed multilateralism. They also agreed to cooperate for reforms in the World Trade Organization (WTO) and comprehensive reform of the UN Security Council.
India will participate in the second high-level conference of the United Nations on South-South Cooperation in Buenos Aires in 2019 (BAPA+40).
Other Areas of Cooperation
Several Memorandum of Understanding (MoU) covers distinct areas of cooperation such as Defense Cooperation, Space Cooperation, Nuclear Energy, Oil and Gas, Renewable Energy, Education, Culture, and People-to-People Exchanges.