Wednesday, September 18, 2019
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ECONOMY | 16-04-2018 09:25

China meat export deal to be finalised in May: ambassador

Argentina had a US $4.5 billion trade deficit with China last year. “We want to strike a balance,” Chinese Ambassador to Argentina Yang Wanming said.

The drawn-out negotiations with China over frozen meat exports will conclude by the end of May, when the deal is finally signed, China’s Ambassador to Argentina Yang Wanming confirmed. 

“The negotiation over fruit (exports) is also on track”, the diplomat added.

An agreement over meat exports has been announced several times in the last few years.

Argentina's trade deficit with China totalled US $4.5 billion last year. “We want to strike a balance”, Ambassador Yang said.

The plans for a trade summit to be held in Beijing in November will be announced in Buenos Aires next week.

“Argentina has a deficit but we have signed phytosanitary protocols to facilitate the access of Argentine products”, he added.

Meat and fruit sales to China could total more than US$ 400 million.

Asked about the possible trade war between China and the United States, and the assumption that if Beijing applies tariffs on Washington then Argentine soy exports to Asia could benefit, the diplomat told this journalist: “There could be specific benefits but we hope to avoid a trade war”.

During a presentation at the Argentine-Chinese Chamber of Commerce, Ambassador Yang said that the trade measures taken by US President Donald Trump, which established tariffs on Chinese products, “would impede the normal development of international trade”.

“There are no winners in a trade war but China is also not afraid and will take reciprocity measures”, he said.

Beijing has announced tarrifs on US products totalling US $ 50 billion. It has also lodged a complaint with the World Trade Organisation which is now awaiting a US response.

“With the America First argument, the United States has caused an impact in the world, which includes China but also other countries like Argentina”, Wang added.

This article appeared originally in Spanish on Perfil.com

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Patricia Valli

Patricia Valli

Subeditora de Economía y 50y50 de Diario Perfil.

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