Argentina and China vowed Friday to boost agricultural cooperation, establishing a joint committee to consider expanding Argentine exports to the Asian giant, officials said.
"The Chinese minister welcomed the importance of this committee's first meeting as a great event for bilateral cooperation that will bring great contributions to world agriculture," Argentina's Agriculture Ministry said in a statement after a meeting of delegations from both nations.
The talks came as Chinese Agriculture Minister Han Changfu visited the country. He is due to meet President Cristina Kirchner at the presidential palace on Monday.
Agriculture Secretary Lorenzo Basso said talks would address direct seeding and certified agriculture, genetics and embryo transfer for cattle, as well as cattle used for milk and meat consumption.
Changfu was scheduled to visit the Rosario Stock Exchange, an agribusiness hub.
Argentina is the third largest supplier of agricultural products to China after the United States and Brazil, according to official statistics.
In 2009, Argentine agricultural exports to China reached four billion dollars, exceeding the country's shipments to other Asian countries, the European Union and the other three Mercosur countries — Brazil, Paraguay and Uruguay.
Sales of soybean, poultry, cattle hides, peanut oil and other products to China have since grown, reaching 5.1 billion dollars by September.
The South American country is the world's largest exporter of sunflower oil, a leading exporter of soybean oil and among the top five exporters of soybean and corn.
More than a third of its exports are in agricultural products, which analysts say could fetch some 25 billion dollars during the 2010-2011 season.
Earlier this year, trade relations soured when China suspended soybean oil imports from the South American nation for six months ending in October. Argentina is the world's largest exporter of soybean oil, and China is one of its biggest customers.
It was seen as a retaliation to restrictions Kirchner's government imposed on imports last year, citing the global economic crisis, which resulted in reduced purchases of appliances and textiles from China, among others countries.
China imports 70 percent of its soybean oil from Argentina; in 2009 it imported 4.6 million tonnes of the product, according to official data.
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