We have high degree of economic complimentary with India, says Ambassador Argentina Caucino

Argentina Ambassador Mariano Agustín Caucino has said that his country has a high degree of economic complimentary with India and increasing ties in areas like critical minerals, food security. Speaking to WION's Sidhant Sibal, Ambassador Caucino said, "Argentina is one of the countries that has huge reserves, but not only in lithium. They are exploring copper. Argentina has exported an important amount of gold to India, and now there are some companies of Indian origin trying to expand, not only in Catamarca, but in other states". Earlier this year, PM Modi visited Argentina, the first such bilateral trip by an Indian PM to the country in 57 years. During his meeting with Argentina President Javier Milei, both sides agreed to deepen ties in defence, space, agriculture and pharma.

The ambassador backed the expansion of India's Mercosur preferential trade agreement or PTA, something that was also discussed during PM Modi's visit to Argentina earlier this year. He said, "it is obvious that is very convenient for our country, for the region, for Mercosur, to be able to work more closely with India. India and the Argentina's economy, and India and most Latin American economies are very complementary. There is a sort of complementarity between these economies". Mercosur is a common market in South America, which has Argentina, Bolivia, Brazil, Paraguay, and Uruguay as its members. The bloc has a PTA agreement with India operational since 2009, with a focus on its expansion now.

WION: How do you see the India-Argentina relationship?

Mariano Agustín Caucino: India is growing so much. India is becoming a more and more important country in the world today. You are now the number fifth economy. You are becoming number fourth-largest economy. You will be number third-largest economy at the end of this decade. So in that sense, for a country like Argentina, India is becoming more and more important. When I talk to my colleagues, ambassadors in Latin American countries and other regions, we are very excited about the possibility of serving here at this moment. When I was given the opportunity to serve as an ambassador, I asked to be appointed here, since the relationship with India is becoming so much more strategic. In the year 2019, Argentina and India elevated the relationship to the standard of strategic partnership, and now we are fulfilling this with the visit of the Prime Minister and with the economic relationship between the two countries of around $5 billion.

WION: So what's your view about the review of the PTA, the preferential trade agreement between India and Mercosur?

Mariano Agustín Caucino: Mercosuris integrated by four countries, Argentina, Brazil, Paraguay and Uruguay. The four countries are on the same page, and that preferential trade agreement has to be expanded. Now, Brazil has the presidency of the Mercosur for this semester, and I think they are working well. It is obvious that it is very convenient for our country, for the region, for Mercosur, to be able to work more closely with India. India and Argentina's economy, and India and most Latin American economies are very complementary. There is a sort of complementarity between these economies. So that's why it is very, very important that we can achieve this.

WION: Argentina is quite rich with resources, especially when it comes to critical minerals as well. We have seen certain Indian companies also looking for resources in Argentina. Perhaps if you can shed some light on how Argentina, your country, can fulfil India's need for critical minerals, and, of course, the increased presence of the Indian companies in your country.

Mariano Agustín Caucino: Well, currently, there are some companies in the mining sector working in Argentina already, for example, in the province of Catamarca, which is in the north of Argentina, the governor, who is equivalent to the Chief Minister of Catamarca, was here early this year. And they are working very good. They are working on lithium. So the cooperation there is very important, because India is developing programs of electric vehicles and all those types of things, and you demand those minerals, and Argentina is one of the countries that has huge reserves, but not only in lithium. They are exploring copper. Argentina has exported an important amount of gold to India, and now there are some companies of Indian origin trying to expand, not only in Catamarca, but also in other states, other provinces in that area of Argentina, which are very rich in these mineral resources. So I think it's an example of cooperation, an example of complementary

WION: In terms of lithium, how does Argentina plan to become a country that can fulfil India's needs?

Mariano Agustín Caucino: In the north of Argentina, which is part of the so-called lithium triangle between Argentina, Chile and Bolivia, there is a huge reserve of lithium in the world. So for India, it is very important to be able to access those markets, those resources. Argentina is the eighth-largest country in the world. India is seventh in terms of territory; there's not much difference. India is a bit larger, but in terms of people, you are 30 times more than us. We have almost the same territory, but we have only 50 million people, which is a relatively small population. It's a country that has the possibility to provide a food security it's already providing to a country as India and other Asian countries, for example, and can expand that to mining, and it can expand that even to energy security, because the population of my country is relatively small, but we are full of natural resources, and the geographyallows to have many variety of climates, variety of productions, in a scale only you can compare to the United States in terms of a territory with the possibility of having different climates and different resources.

WION: Your country is an important source of oil, as well the edible oils, as well. And you have in the past stated how it has become an important source for India. So, in terms of food security, what can Argentina bring to the table for India?

Mariano Agustín Caucino: Well, currently, Argentina is the number one provider in terms of soybean oil, and it's number three in terms of sunflower oil. Argentina is in each table of Indian families, in each kitchen of Indian families, even when Indian people may not know about that, and even when Argentine people don't know. So now we are the number one provider in terms of soya bean oil, and India, if I am not wrong, is the largest importer of edible oils in the world. That's the core of the economic relationship and the core of the Argentine exports to India, which have reached the level of $5 billion, which for the Argentine economy is a big number.

WION: Most of the Indians know Argentina because of football, Diego Maradona and others as well. Any plans for cooperation on that? On the sporting front, India is keen to host the Olympics very soon.

Mariano Agustín Caucino: Every part of India, I go, especially in the southern states, they are always talking about football, about Maradona, about Messi. There is a great expectation on the possibility of Messi coming here. I don't know exactly. Apparently, he's coming. I don't have the confirmation exactly, but I think he put something on social media coming at the end of the year. And of course, football and or soccer depends on it as a cultural bridge between the countries, it's not the only one, but others like tango.

WION: Defence is looking like another area where there can be increased cooperation. Has the Argentinian side been interested in India's defence products? Has India offered you any defence products? Can you talk about defence cooperation?

Mariano Agustín Caucino: Well, as you know, it's in the media. There have been talks in the last years between the Indian part and the Argentine part about the possibility of providing some material, and I think that's something that is always under study. I don't have any further information, and even if I had, I would not be able to talk publicly, because, you know that defence contracts are something very, say, restricted, and they are not even decided by the embassy. But I think, in general terms, I can say that the cooperation between the two countries has been increasing. For example, there were some exercises. There was one group of soldiers from India going to Argentina. Another very important thing we share values is in the combat and the rejection of terrorism. Argentina was among the first countries to support India immediately when this terrible terrorist attack happened on April 22, in Pahalgam, and I had the opportunity to talk to the Minister of External Affairs, Dr S Jaishankar, and he thanked me. We know what terrorism is. We had two terrible attacks in the 90s. You know, in Argentina, they killed 100 people combined. So we support India in this field.