Spotlight: Chinese companies optimistic about Sino-Argentine commercial cooperation

Chinese companies participating in the ongoing Argentina Business and Investment Forum expressed their optimism about future bilateral relations and commercial prospects.

The forum, attended by around 1,900 national and foreign business leaders on Sept. 12-15, is a pillar of Argentina's strategy to regain status in the international business community.

The forum "not only has an institutional character, it also focuses on entrepreneurship and practical issues," said Yang Shidi, a representative from the China State Construction Engineering Corporation (CSCEC).

"This seems to be a very positive signal from the new government to foreign investors," he told Xinhua.

The Argentine government and companies alike should "continue making efforts to make these initiatives come true," including the simplification and reduction of bureaucracy as a "very useful step for Argentina to receive foreign investment," he added.

CSCEC, one of China's most important construction firms, has been in Argentina for two years undertaking a number of projects, including a major irrigation project in the province of Entre Rios.

Zhou Zhecheng, a representative from China's heavy machinery manufacturer Sany Group, told Xinhua that "Argentina is a large country with good opportunities for companies from China and other countries."

"We are trying to assist with local projects, especially in housing. We want to establish a plant for pre-fabricated panels. We are negotiating with the province of Buenos Aires to help with housing construction," he said.

China is Argentina's second-largest trading partner and the main importer of the country's agricultural products.

On Tuesday, Argentine President Mauricio Macri extended a broad invitation to those wanting to invest in the third-largest economy of Latin America.

"Your presence in this forum shows your help for the new phase our country is beginning. A phase of sanity, of respect for the rules, where we seek to improve day by day with clear objectives and perseverance to achieve them," said Macri.

In a recent interview with Xinhua, Macri said China is of "enormous importance" and "complementary" to his country and his administration will work to promote reciprocity and increase Argentina's export of greater value-added goods to China.

"We hope the talks will lead to mechanisms so that, based on this relationship, Argentina can balance the scales with more labor intensive products and at the same time find ways to generate greater tourism flows between Argentina and China," he said.

"China needs to work on its food security and Argentina is a very good partner for that. Argentina needs more energy and China is a very good partner for that," he noted.

"Argentina needs to significantly improve its infrastructure and China has been very successful in building new infrastructure. This complementarity should work very well," said the president.

Although the International Monetary Fund has predicted Argentina's economy will contract by 1.5 percent in 2016, Macri's government is determined to seek investment to drive public works, modernize infrastructure and reverse social anger at the rising cost of public services and stagnating salaries. Endi