Argentina's Pursuit to Join BRICS' NDB: Key Talks

Diplomatic talks advance Argentina's bid to join NDB, promoting development, environmental protection, and inclusion of the poorest.

The Argentine Ambassador to China, Sabino Vaca Narvaja, convened in Shanghai with the President of the New Development Bank of the BRICS nations (NDB), former Brazilian President Dilma Rousseff, and China's new Foreign Minister, Qin Gang, in an effort to advance Argentina's entry into the financial institution.

During his recent visit to China, President Lula inquired, "Why can't we trade backed by our currency?" Vaca Narvaja echoed this sentiment, stating, "I believe institutions like the NDB help us think differently, and our meeting with Dilma was extremely helpful in this regard," as reported by the Argentine embassy in China.

Rousseff highlighted the NDB's goals, which encompass environmental protection, development, and the inclusion of the poorest populations.

In 2021, the BRICS' NDB welcomed Bangladesh, Uruguay, the United Arab Emirates, and Egypt as new member countries. Argentina has expressed interest not only in joining the bank but also in becoming part of the group consisting of Brazil, Russia, India, China, and South Africa, a move that has been officially supported by the Chinese government.

Vaca Narvaja also met with China's new Foreign Minister, Qin Gang, during a forum on China's Modernization and the World. Qin emphasized that China "has lifted over 800 million people out of poverty and has brought more than 400 million into middle-income groups."

"Today, China has become the primary trading partner for more than 140 countries and regions, with $320 million of direct Chinese investment in the world every day, and over 3,000 foreign investment companies being established in China each month. In the past decade, China has driven global growth more than the combined G7 nations," Qin added.