PM Modi, Argentine President Milei discuss cooperation in trade, critical minerals, energy, space

United News of India

3 days ago

Buenos Aires/New Delhi, July 5 (UNI) Prime Minister Narendra Modi and Argentine President Javier Milei held bilateral talks at the latter's Casa Rosada office in Buenos Aires today, during which the two leaders explored new areas of cooperation in trade, critical minerals, energy, space, defence, startups, agriculture and Pharma.
PM Modi said in a post on X after the meeting:
'Excellent meeting with President Javier Milei of Argentina. We are marking 75 years of India-Argentina diplomatic relations and 5 years since we elevated our relationship to a Strategic Partnership. We have covered significant ground in our bilateral relations, but we agree that the journey ahead is even more promising!
'President Milei and I discussed ways to diversify trade ties, cooperation in agriculture, defence, security, energy and more. There is immense scope in areas like pharmaceuticals and sports as well.'
The MEA spokesperson said in a post on X:
'Deepening strategic ties!
PM @narendramodi held delegation level talks with President @JMilei at Casa Rosada in Buenos Aires, Argentina.'Both leaders took a comprehensive review of existing cooperation and explored new avenues of collaboration in bilateral trade, critical minerals, energy, space, defence, startups, innovation, agriculture, Pharma, sports & people to people ties.
'PM thanked President Milei for his strong support and solidarity with India in its fight against terrorism.'
The meeting in Buenos Aires marks the first formal bilateral meeting between leaders of the two nations on Argentine soil since 1968, when Indira Gandhi was received by the then de facto president Juan Carlos Onganía.
PM Modi who arrived on Friday night, began the day by laying a floral tribute at the monument to General José de San Martín in Plaza San Martín.
PM Modi said in a post:
'Paid homage to General José de San Martín in Buenos Aires. His courage and leadership played a pivotal role in Argentina's history. His life remains a symbol of patriotism and determination for the people of Argentina.'
P Kumaran, Secretary East, briefed the media on the bilateral talks. He said that PM Modi was accorded a ceremonial welcome at the Casa Rosada ahead of the talks.
The two leaders had a brief tete-a-tete, followed by delegation level talks, during which they reviewed the entire range of bilateral relations. Both leaders agreed to enhance collaboration across a range of key sectors, including trade and commerce, technology, defense, space, health, and pharmaceuticals, and further deepen the strategic partnership between the two countries.
Prime Minister Modi requested Argentina's support in expanding the India-Mercosur preferential trade agreement, noting that such an expansion can bring mutual benefits for both sides and open up new opportunities. Both leaders also expressed interest in enhancing collaboration in the defense sector, where they felt that they can leverage their respective experiences and capabilities to increase cooperation and contribute to mutual strategic interests.
In agriculture, they also discussed the need to enhance market access for each other's agricultural and dairy products. They emphasized the importance of sharing knowledge and technology to boost productivity and sustainability in the sector. To take this forward, they directed their teams to convene the Joint Working Group on agriculture at the earliest opportunity.
The Prime Minister highlighted India's strength in the healthcare and pharmaceutical sectors, particularly the capacity to produce high quality affordable medicines. He discussed the possibility of India being moved from Annex II to Annex I of Argentina's pharmaceutical regulatory framework, which would facilitate smoother entry of Indian pharmaceutical products into the Argentine market.
They also discussed initiatives in telemedicine, digital health solutions, and capacity building through training and knowledge exchange. The two leaders discussed cooperation in the energy and critical mineral sectors. PM Modi underlined India's growing energy and industrial needs and emphasized that Argentina could serve as a reliable partner in supporting India's developmental journey.
Argentina has the world's second largest shale gas and fourth largest shale oil reserves, along with substantial conventional oil and gas deposits, and holds strong potential to become an important energy partner for India. Argentina's rich reserves of critical minerals, including lithium, copper, and rare earth elements, align with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth.
Both sides agreed on exploring new avenues for cooperation in space, including satellite development, launch services, space applications, and also to cooperate on capacity building.PM Modi thanked President Milei for extending strong support following the recent terrorist attack in Pahalgam in India's Jammu and Kashmir, and appreciated Argentina's solidarity during this difficult time.
The two leaders discussed cooperation under the International Big Cat Alliance (IBCA).
They also discussed the use of drones and multiple purposes for which they can be put into. President Milei showed a lot of interest in the uses that drones are being put to in India.
There was discussion about using it to tackle IUU fishing (Illegal, unregulated, and unreported fishing) especially encroaching fishermen into Exclusive Economic Zones of Argentina, and for cattle management, increasing agricultural productivity for border surveillance.
They also discussed about India's UPI, Unified Payment Interface System, and how it has increased productivity in India. President Milei was keen to understand how the UPI system works and how it helps the central bank control monetary policy in a more effective way. The two sides agreed that they should have a visit by a central bank delegation to visit India and to talk about various aspects of this.
The two sides also discussed cooperation in the area of sports. India's strengths in cricket and Argentina's strength in football were discussed.
They also discussed cooperation in startups, given that India has the third largest startup ecosystem in the world. PM Modi also invited President Milei to visit India at an early opportunity, and visit the Lion Sanctuary in Gujarat and promised that it will be an enjoyable experience for him.
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