Metalnewsnet 29 Jan:

Argentina is looking to attract Chinese investors to help develop its fast-growing mining sector, visiting Foreign Minister Jorge Taiana said Tuesday.

Taiana, who arrived in China on Monday along with nearly 80 business leaders, said he wanted to boost and diversify Argentine exports and work on developing bilateral corporate cooperation, specifically in mining.

"The mining sector has developed quite a bit in recent years in Argentina and Chinese business leaders are interested in investment opportunities," he said.

Since last year, Metallurgical Corporation of China has had a presence in the South American country, where it produces iron ore.

Trade hit a high of 14 billion dollars in 2008, but fell back last year as the global financial crisis set in and agricultural yields declined in Argentina, Taiana explained.

Farm products make up the majority of Argentina's exports to China.

"We're sure that in 2010, Argentina's economy will see sustained growth and that commercial exchanges with China will again increase in a significant way," he said.

In 2009, Argentina exported nearly four billion dollars in goods to China, Hong Kong and Macau. Imports totalled nearly five billion dollars.

Taiana, who met Chinese Vice Foreign Minister Wang Guangya on Tuesday in Beijing, was due to head to China's financial hub Shanghai on Wednesday for two more days of talks between Chinese and Argentine business leaders.

(from afp)