China and Argentina signed a memorandum of understanding on Sunday sealing the Latin American country’s entry into the New Silk Roads, an ambitious Beijing project launched at the instigation of Xi Jinping.
The New Silk Roads initiative aims to improve trade links between Asia, Europe, Africa and even beyond through the construction of ports, railways, airports or industrial parks.
These infrastructures should enable the Asian giant to access more markets and open up new outlets for its companies.
On the occasion of a visit to Beijing for the Olympic Games, the Argentine President, Alberto Fernandez, was received on Sunday by his Chinese counterpart, Xi Jinping.
The two heads of state signed an agreement to “jointly promote the construction” of the new Silk Roads, state television CCTV reported. The agreement formalizes Argentina’s entry into the New Silk Roads.
China has signed agreements related to this initiative with nearly 150 countries.
According to the Ministry of Commerce, Chinese companies invested more than $25 billion in projects related to the New Silk Roads last year.
After two years without guests in Beijing due to the pandemic, the president also received Pakistani Prime Minister Imran Khan on Sunday.
The meeting comes after a deadly attack in Balochistan, a province of Pakistan that borders Iran and Afghanistan. There has been fighting between the Pakistani army and a separatist group in recent days.
During a meeting, Mr. Xi assured his guest of China’s “strong support” especially in the “fight against terrorism”, reported CCTV.
Pakistan and China have forged close ties in recent years, with Beijing set to invest more than $60 billion in the China-Pakistan Economic Corridor project, whose flagship is the deep-sea port of Gwadar.
These Chinese plans have created strong resentment in Balochistan, Pakistan’s largest, least populated and poorest province, which has long been the scene of ethnic, sectarian and separatist violence.