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China, Argentina sign 10-bln-USD rail deal

China and Argentina have signed an agreement on railways worth 10 billion USD during the current five-day visit by Argentine President Cristina Fernandez de Kirchner.
China and Argentina have signed an agreement on railways worth 10billion USD during the current five-day visit by Argentine PresidentCristina Fernandez de Kirchner.

The agreement will focus on 10major projects, including Argentina buying Chinese rail technology andthe construction of urban railways and metro’s in the South Americancountry.

Apart from transportation, the two countries also signeda series of cooperative deals on infrastructure development, fisheries,energy and quarantine regulations.

At their talks, ChinesePresident Hu Jintao and President Fernandez de Kirchner said they bothintend to continue promoting bilateral trade.

In recent years,China has seen a strong development in its railway network and in 2009,it exported passenger and freight carriages to Singapore andAustralia.

The country is also building express railway routesin Turkey and Venezuela./.
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