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| 02/06/2011 | Buenos Aires Herald | 5 | CFK promotes investment |
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CFK promotes investment President seeks to boost ties with Italy during trip The business seminar in Rome yesterday that included Argentine and Italian executives had as an objective “not only to increase bilateral trade, but also to contribute to the diversification of Argentine exports through the incorporation of value-added goods and technological complexity,” International Trade Secretary Luis María Kreckler said. Around 120 Argentine companies from the food, biofuel, construction, steel, furniture, software, textile, wine and tourism sectors participated in the business talks that have as a short-term goal to double Argentine exports to Italy, which totalled US$1.6 billion in 2010, of which 82 percent were from the agriculture sector. Overall, Argentina’s Foreign Ministry presented an investment-promotion plan that included 43 distinct projects for the renewable energy, tourism and agriculture sectors, among others, that could involve as much as US$3 billion. Specifically, Federal Planning Minister Julio De Vido signed four agreements with Italian companies for energy and infrastructure projects. “The 2001 debt default hurt our relationship with Italy and the world. In the Italian case perhaps it was more painful because our historical ties are hardly news, considering the country made up the main migratory flow to Argentina,” Fernández de Kirchner said. A small group of Italian holders of defaulted Argentine bonds that have refused two debt swap offers protested Fernández de Kirchner’s presence in the country but their existence is no longer seen as an impediment to boosting bilateral relations. The agreements reached yesterday will “multiply once you really get to know Argentina, not only Buenos Aires, but also the country as a whole, which we are transforming with a formidable infrastructure plan,” Fernández de Kirchner said. The President praised the “Italian development model,” particularly noting that “medium and small-sized businesses make up 50 percent of Italy’s exports” while in Argentina they represent “15 percent.” She added that in talks with Berlusconi the two leaders agreed on programmes to “develop expertise for small and medium-sized business in Argentina.” Timerman stated that Argentina and Italy “cannot be separated” and ratified that the bilateral relationship “has already been relaunched” due to the presidential visit. For his part, Argentine Industrial Union President José Ignacio de Mendiguren, who was part of the business delegation in Rome, said that Argentina has “macroeconomic numbers that are far superior than those of any country in Europe.” Meanwhile, Agriculture Minister Julián Domínguez met with his Italian counterpart yesterday and pushed for a greater participation of Argentine wine in the Italian market. The two officials agreed they would plan a technical training seminar in Buenos Aires to exchange know-how on agricultural techniques and technology. |
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