BUENOS AIRES, May 7. /TASS/. Legislative assembly of Buenos Aires has endorsed a bill on creating Russian Federation Square in the northern part of the city, Silvana Yarmolyuk, the chairperson of the Coordination Council of Russian Compatriots told TASS on Saturday.
"The bill has been passed into law and the space for the square has been allotted," she said. "Works in the area will begin in a month's time.
The square will be located in the Belgrano district where most of the residents have revenues above the average. The Russian side put forward an initiative to create it there four years ago.
The substantiation of the bill that was filed by deputy Carolina Estebarena says the initiative pursues the goal of consolidating the ties between Argentina and Russia. It also says descendants from Russia made an important contribution to development of Argentine society.
"Certain assessments suggest that two-thirds of argicultural output in Argentina today is produced on the lands initially aquired by the Russian immigrants and by the companies they founded," the document says.
The authors of the law say the Russian community in Argentina has about 300,000 members at present and is the biggest one in South America.