 "In next 5 yrs, Argentina aims to double trade with India")
New Delhi: Argentina expects its trade withIndia to more than double to about $4 billion in the nextfive years.
During 2012-13, the bilateral trade between the twocountries was estimated at about $1.8 billion.
“We expect that the bilateral trade between India andArgentina to more than double to USD 4 billion in the next
five years from the current level as there is a huge untappedpotential,” Province of San Luis (Argentina) Governor ClaudioPoggi told a Ficci function here today.
He is heading a 60-member delegation, includingbusinessmen and government officials, to India.
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India exports to Argentina include chemicals, vehiclesand auto parts, plastic products, machinery, garment and
synthetic fibre, while imports comprise soyabean oil,sunflower oil, leather and wool.
Inviting Indian companies to invest in San Luis, Poggisaid, “We welcome Indian companies to either have joint
ventures or strategic partnership with our companies. Thepotential areas of investment include construction, solar
energy, engineering and food processing.”
To further strengthen ties with India, Argentina recentlyinaugurated its first commercial, cultural and tourism office
in Chennai.
“We have opened an office in Chennai because we arelooking for a long-term bond with India. I feel in the medium
to long-term there will be a considerable increase in tradeand investment level,” Poggi added.
PTI