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Russia and Argentina at new stage of comprehensive strategic partnership

Among all the countries of Latin America, Argentina is Russia's longest-running big business partner. This nation is constantly engaged in an active political dialogue, as well as in fairly wide cultural and humanitarian exchanges.
At present, Argentina occupies a prominent position among Latin American countries in terms of trade turnover, although its share in the total foreign trade turnover of Russia is relatively small (0.05% of exports in 2016). Russia is also not among the main trade and economic partners of Argentina (0.8% of exports in 2016). The trade balance remains negative for Russia, and the deficit tends to increase.

Valdaiclub.com lists the following, current Russian-Argentine trade features:
  • a growing negative balance for Russia. From 1995 to 2016, the accumulated negative trade balance for Russia exceeded $ 8 billion. The growing imbalance in mutual trade is determined by the large purchases of food products from Argentina;
  • limited supplies of Russian goods, mostly fuel and fertilizers.
  • predominance of agricultural and food products in Russian imports from Argentina (fresh fruit, vegetable oils, beef, wine, fish, juices, tobacco, etc.).
The determination of Moscow and Buenos Aires to deepen cooperation within the framework of a comprehensive strategic partnership remains. Vladimir Putin and Mauricio Macri plan to exchange official visits in 2018.

Publication date: 1/25/2018


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