Russian-Argentine trade up 15% in January-April 2018

Trade between Russia and Argentina has risen by 15% in the first four months of 2018.

"Last year, bilateral trade stood at less than $900 million, but, nevertheless, it grew by 1.5%," the ambassador, appointed on June 20, said at the ceremony to present his diplomatic credentials to the Argentine government. "It increased by more than 15% in January-April, that’s why we see positive dynamics in this sphere, which, undoubtedly, should be boosted further."

According to the ambassador, a number of projects currently being discussed, which, if implemented, could significantly increase the figures.

"If they are implemented one day, trade turnover would stand at several billion dollars. Russia is ready, but it takes two to dance tango," he said, adding that "certain projects require a political impetus, including from the Argentine side."

Speaking about projects currently being discussed by the Russian and the Argentine companies, the official mentioned Russian rail monopoly RZD’s participation in the construction of a railway to the Vaca Muerta oil deposit and Gazprombank’s plans to finance the construction of a port on the Parana river.

"Planned investment stands at more than $500 million for the first project and almost $200 million for the second," he said.