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Russia offers Argentina cooperation in oil, metallurgical, atomic energy sectors

November 12, 2014, 8:22 UTC+3 A

Russian businessmen arrived in Buenos Aires to establish close contacts with Argentinian colleagues

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Uralmash plant

Uralmash plant

© ITAR-TASS/Donat Sorokin

BUENOS AIRES, November 12. /TASS/. A delegation of representatives from Russian companies has arrived in Buenos Aires on a business mission organized by Gazprombank with the participation of the Russian Economic Development Ministry and the Russian trade representative office in Argentina.

Such Russian companies as United Machine-Building Plants, Uralmash Holding, REP Holding, Enex and the ERIELL group told potential Argentinean partners about their products. The Russians offered drilling rigs, equipment and machines for nuclear, oil, gas, chemical and mining industries and cryogenic equipment. Russian companies are also ready to build an oil refinery in Argentina.

Russian Deputy Economic Development Minister Oleg Fomichev said at a presentation ceremony in the Buenos Aires Stock Exchange building on Tuesday that implementation of specific projects between businessmen of the two countries was a key direction of cooperation. He said Russian companies were expected to establish close contacts with Argentinean colleagues to conclude agreements and implement mutually advantageous projects for the good of the two countries.

Fomichev told TASS that the interest between Argentina and Russia was very great, while the level of economic cooperation was not high enough. Though the trade turnover grew six times over the past 10 years, it is not significant, and some supplies and every joint project may double it or reduce in half in case of failure, he said.

When asked about agricultural imports from Argentina after Russia imposed “food” sanctions in response to the EU, the United States, Australia, Canada and Norway, Fomichev said the supplies increased, but not considerably. It is hard to increase exports substantially in a short period, as there are no enough capacities.

“But the interest is great, and the point is that colleagues from Argentina and other countries, which are trying to increase exports, should receive additional guarantees that it is not a one-time campaign, but that they will really have access to the market with prospects,” he said.

Deputy head of the board of Gazprombank Oleg Vaksman assured Argentinean colleagues that any project presented by Russian companies would be accompanied by financial support. He said Gazprombank had no representative office in South America, but it could be open if big finance-requiring projects were under consideration.

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