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Latino Daily News

Friday August 22, 2014

Argentina, Russia Announce Food-Export Deal

Argentina, Russia Announce Food-Export Deal

Photo: Food exports in Argentina

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Argentina on Thursday announced a series of accords with Russia that pave the way for food exports amounting to as much as $18 billion.

The agreements were reached during an Argentine trade delegation’s visit to Russia this week headed by Industry Minister Debora Giorgi and Agriculture Minister Carlos Casamiquela.

Several Latin American countries are seeking to capitalize on an opportunity to supply the Russian market after Moscow barred most food imports from the European Union, the United States, Canada and Australia.

The Kremlin imposed that ban in retaliation for sanctions that Brussels and the United States adopted against Russia for allegedly aiding the separatist movement in eastern Ukraine.

“A path has been opened, a window of opportunity for nearly $18 billion,” Cabinet chief Jorge Capitanich said Thursday, without providing further details of the agreements.

With the accords, Argentina “is reaffirming its status as food supplier to 400 million people at present and the world’s fifth-largest (food) exporter,” Capitanich said.

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