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Kamal Narang

Boosting ties: The Prime Minister, Dr Manmohan Singh, greets the Argentine President, Ms Cristina Fernandez de Kirchner, at Hyderabad House in the Capital on Wednesday. —

Our Bureau

New Delhi, Oct. 14 India and Argentina signed a civil nuclear pact and nine other agreements on Wednesday. The Argentine President, Ms Cristina Fernandez de Kirchner, on a state visit to India, signed the agreements after extensive discussions with the Prime Minister, Dr Manmohan Singh.

A joint statement issued after talks between the two nations stated that India and Argentina will use the synergies between the and the vast experience of their nuclear scientists and technologists. “Taking into account their respective capabilities and experience in the peaceful uses of nuclear energy, both India and Argentina have agreed to encourage and support scientific technical and commercial co-operation for mutual benefit in this field,” said the joint statement.

The Agreement for Co-operation in the Peaceful Uses of Nuclear Energy was signed by Mr Vivek Katju, Secretary (West) in the Ministry of External Affairs, and the Argentine Foreign Minister, Mr Jorge Talana. Argentina became the seventh country with which India has signed a civil nuclear agreement after the 45-nation Nuclear Suppliers Group lifted a 34-year-old ban on nuclear commerce in September last year.

India has already signed similar pacts with the US, France, Russia, Kazakhstan, Namibia and Mongolia.

India and Argentina also signed pacts on business visas, co-operation in science and technology and outer space. Also Memoranda of Understanding were signed in the hydrocarbon sector, sports, trade and geological research.

They also announced a relaxation in their visa regimes for business visitors as the two emerging economies seek to more than double the two-way trade in the next three years. The Argentine President, addressing a joint meeting of the business chambers FICCI, CII and Assocham, said the two countries had set a trade target of $3 billion by 2012 from $1.3 billion in 2008.

Four memoranda of understanding were signed in the presence of the visiting dignitary. India is Argentina’s second most important trade partner in Asia after China. The country’s exports to Argentina include chemicals, auto components, garments, engineering goods, hand tools, jute yarn and leather.

Speaking on the investment environment, Ms Kirchner said Argentina has a fiscal surplus and a positive current account which reflect a sound economy and asked Indian businesses to invest in the country.

“Fiscal surplus and positive current account reflect that our macro-economic condition is sound, this shows investment in Argentina will be safe and profitable,” she said.

She added that besides food, energy and pharmaceutical, mining is one of the important sectors where Indian businessmen can explore opportunities.

The two countries are also nearing an agreement on easing sanitary and phyto-sanitary standards which govern the trade in agri and plant items, the statement said.

It said efforts would also be made to facilitate entry of Argentine agricultural and agro-industrial products into India and the entry of Indian pharmaceutical products into the Latin American nation.

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