Expansion of the existing India-MERCOSUR FTA, defence and security, food security, investment and trade, nuclear technology were among issues that were discussed between India and Argentina on Sunday. Argentina Foreign minister M Santiago Cafiero met with his counterpart external affairs minister Dr S Jaishankar and handed over an invite of Argentine President Alberto Fernandez for Prime Minister Narendra Modi to visit his country. The first time PM Modi visited Argentina was to attend the G-20 summit.

Besides the Argentine Foreign Minister who is on his maiden India visit to attend the Raisina Dialogue, a two day event April 25-26 in New Delhi, there will be several other top leaders attending too.

India-Argentina Trade

According to official figures, bilateral trade in 2021 scaled a historic high of USD 5.7 billion, registering almost 72 percent growth over 2020. However, India continues to experience huge trade deficit each year, reaching USD 2.9 billion in 2021.

Both sides expressed satisfaction at the increasing bilateral trade and hoped this remained a permanent feature in future too. During talks, India expressed concern over huge trade deficit and pointed out need for diversification of trade.

According to a top diplomat, external affairs Minister Dr Jaishankar has requested Argentina to consider elevation of India from Annex II to Annex I list of countries to facilitate India’s pharmaceutical exports.

Nuclear collaboration for peaceful purposes

The visiting minister is also going to visit Mumbai for a nuclear plant – as has been reported earlier by Financial Express Online, state-owned company INVAP is in the last phase of development of the Fission Molly Project. This is a molybdenum plant which is being built in Mumbai and it focuses on creating isotopes. Also, according to a top diplomat, this company manufactures some of the components which are being used in the Indian power reactors.

Lithium

The visiting minister also briefed on Lithium sector in Argentina and said that by the end of 2022, his country will be the second largest exporter of the rare earth.

Financial Express Online has reported earlier both countries have inked an agreement, signed by the Indian consortium KABIL with JEMSE, the public company of the Province of Jujuy, for the exploration and exploitation of minerals.

For deeper collaboration in Lithium, it is being pursued by KABIL with two provinces — Catamarca and Jujuy.

Other sectors

Also the talks were focused on possible collaboration in knowledge intensive sectors, technology, and IT sectors. Argentina has 11 Unicorns worth over USD 1 billion listed in stock exchange.

India-CELAC forum

During the talks, both sides have agreed to re-energise the India-CELAC forum, under the current presidency of Argentina. The last India-CELAC meeting had taken place in 2017, on the sidelines of UNGA in New York.

CELAC (community of Latin American and Caribbean States) is a regional bloc of 33 Latin American countries set up in 2011.

Defence Cooperation

As reported earlier by Financial Express Online, Argentina is looking to revamp their defence equipment and in March this year, there was a visit of a defence delegation to India which led by Chief of Argentine Air Force.

Argentina FM Santiago Cafiero raises Falkland issue

He raised the issue of Malvinas or Falkland Island issue and also held the first meeting of a commission formed by his government. While pointing out that UNGA has designed a mechanism to solve the dispute, the visiting minister during his meeting called for a “dialogue” with the UK.

What is the Falkland Island Issue?

In 1982, both Argentina and the UK went to war over a group of islands located in the South Pacific. The Argentines refer to these islands as Malvinas; the British refer to them as Falkland by UK and Malvinas by Argentina. While pointing out that UNGA has designed a mechanism to solve the dispute, the visiting minister during his meeting called for a “dialogue” with the UK.

The Argentine minister comes close of the heels of the British Prime Minister Boris Johnson’s recently concluded visit to India.

Argentina seeks to promote compliance with UN resolutions and calls for the resumption of talks between the UK and Argentina over Malvinas, South Georgias and South Sandwich Islands and the surrounding maritime areas, in accordance with international law.

MP Shashi Tharoor, Granddaughter of the father of the nation Mahatma Gandhi–Tara Gandhi Bhattacharjee, former Ambassador Rengaraj Vishwanathan, were among the dignitaries from the Indian side present during the commission meeting on Sunday.

Why was this issue raised during this visit?

According to a statement from the Embassy of Argentina in New Delhi, India is part of the UN Special Committee on Decolonization (C-24), and has always backed UN Resolutions calling for a negotiated solution to the questions related to the Malvinas Islands. India has supported the yearly adoption, by consensus, of resolutions on the issue and has also endorsed the calling for the cited dialogue as part of the Group of 77 + China.

G-20

The two ministers also discussed G20 and cooperation in other multilateral fora and given their convergences they decided they would closely cooperate in this forum.