China says its trade with Argentina is “fair”

China considers its trade with Argentina is “fair”, despite the trade deficit for the South American country, said diplomatic sources of China.

“The trade balance is fair. Argentina has some deficit, but not much. The important thing is to grow the volume of trade,” said China’s ambassador to Buenos Aires, Yin Hengmin (殷恒民) today at a press conference, giving details of Chinese premier Wen Jiabao’s coming visit to Argentina on Monday.

According to the official figures from Argentina, last year China exported to Argentina for 10573.3 million dollars, 38 percent more than in 2010. Meanwhile, Argentine exports to China amounted to 6176.2 million dollars, up 7 percent.

This made Argentina’s trade deficit with China went from 1,850 million dollars in 2010 to 4,397 million dollars in 2011.

“There will be more trade,” said the Chinese ambassador, who avoided discussing the import restrictions.

On the visit of Wen Jiabao, the diplomat said the Chinese premier is scheduled to meet with the president of Argentina, Cristina Fernandez next Monday, to “review the development of bilateral relations in all fields”, especially since 2004, when Argentina and China signed a strategic partnership agreement.

According to the Chinese diplomat, Wen Jiabao and Cristina Fernandez also “plan the future development of bilateral relations” and “exchange views on international situation.”

Hengmin Yin noted that Wen Jiabao will be the first official visit of a Chinese premier to Argentina in 27 years and is of special significance for the fortieth anniversary of bilateral diplomatic relations, which began in February 1972.

“The bilateral relationship is at its best,” said ambassador Yin Hengmin.

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