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Russia needs to boost investments into Argentina — FM

May 28, 2014, 19:55 UTC+3 MOSCOW
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MOSCOW, May 28. /ITAR-TASS/. Moscow seeks diversified trade ties with Argentina and aims for increased investments in the Latin American country’s economy, Russian Foreign Minister Sergei Lavrov said on Wednesday after talks with his Argentinian counterpart Hector Timerman.

Russia would be happy to see Argentina invest in the Russian economy, he added, while Timerman confirmed his country’s interest in a heftier investment flow from Russia.

Describing the plans as “realistic”, Lavrov cited “practical talks about Russian investments in the energy sector of Argentina, including hydropower and nuclear energy”.

“We hope that the competitive edges of our companies keen to penetrate this economic sector will be appreciated in Argentina,” Lavrov said.

Argentina is member of Mercosur, the Common Market of the South, established to promote economic cooperation among its member countries, development of economic, trade and investment contacts with external partners. Russia has working contacts with Mercosur and was keen “to arrange them on a legal basis”, said Lavrov, especially between the organization and the Eurasian Economic Union.

The Eurasian Economic Union treaty is to be signed on Thursday by the Customs Union members Russia, Belarus and Kazakhstan, planned to later include Armenia and Kyrgyzstan.

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