Argentina seeks Indian investments to boost economic cooperation

Argentina seeks Indian investments to boost economic cooperation

New Delhi, Feb 18- South American nation Argentina Monday sought investments from India in areas including renewable energy and tourism with a view to boost economic bilateral ties.

Argentine President Mauricio Macri said his country is investing heavily to create world-class infrastructure.

"You are most welcome in Argentina. If we work together, then potential is endless. I invite you," he said here at India-Argentina Business Forum meet, organised by CII.

Macri said there is potential in areas like agriculture, renewable energy and tourism.

Speaking at the forum Commerce and Industry Minister Suresh Prabhu said there are huge opportunities in both countries to increase bilateral trade. Argentina is a leader in agriculture sector and "we look forward to increasing cooperation in this," he said adding India has huge expertise in IT and pharma sectors.In agri sector, he said India can seek collaboration in post-harvest technologies.

India can get natural resources from the South American nation as India is focusing on boosting manufacturing sector, Prabhu said.

Talking about the India-MERCOSUR preferential trade agreement, he said going ahead, both countries can think of alleviating this pact.

MERCOSUR is a South American trade bloc comprising Brazil, Argentina, Uruguay and Paraguay as full members.

The bilateral trade between India and Argentina stood at USD 2.94 billion in 2017-18 as against USD 3 billion in 2016-17. RR RR ANU ANU