PM Modi, Argentine President Milei Pledge to Broaden Trade and Strategic Ties
Buenos Aires:
In a landmark meeting, Prime Minister Narendra Modi and Argentine President Javier Milei agreed on Saturday to diversify the India-Argentina trade portfolio and strengthen collaboration in key sectors including defence, security, energy, and minerals.
During their wide-ranging discussions, both leaders underlined the importance of bolstering defence ties to support each country’s strategic interests.
PM Modi arrived in Buenos Aires on Friday, marking the third stop of his five-nation tour. Although he had previously visited Argentina for the G20 Summit in 2018, this visit marks the first bilateral trip by an Indian Prime Minister to the South American nation in 57 years.
In a social media post following the meeting, PM Modi called the discussion “excellent” and noted that both sides explored opportunities to diversify trade and enhance cooperation in agriculture, energy, pharmaceuticals, sports, and security.
“We are celebrating 75 years of diplomatic ties and five years since elevating our relationship to a Strategic Partnership. While we’ve made considerable progress, the road ahead holds even greater promise,” PM Modi wrote on X.
According to Secretary (East) in the Ministry of External Affairs, Periasamy Kumaran, the leaders agreed to expand cooperation across a broad spectrum — including trade, technology, defence, health, and space.
PM Modi also requested Argentina’s support in broadening the India-MERCOSUR trade agreement, which he believes can further deepen economic linkages. MERCOSUR is a regional trade bloc comprising Argentina, Brazil, Paraguay, and Uruguay.
Additionally, the two leaders stressed the need to improve market access for agricultural products and directed their officials to establish a joint working group on agriculture.
India and Argentina formalized their strategic partnership in 2019 during the visit of then-President Mauricio Macri to India. Since then, the two nations have built strong ties in critical areas such as trade, nuclear energy, culture, defence, oil and gas, and technology.
Notably, both countries have strengthened cooperation in mineral resources, particularly lithium, vital to India’s clean energy ambitions. An MoU was signed in August 2022, and the first meeting of the joint working group on minerals was held in January this year.
Bilateral trade has shown significant growth, more than doubling between 2019 and 2022, reaching a high of USD 6.4 billion in 2022. In 2024, bilateral trade totaled USD 5.23 billion, making India Argentina’s fifth-largest trading partner and export destination.
News Source : Information for this article was gathered from a variety of reliable news outlets.
