Arcelor Mittal buys Argentine stainless steel company Majdalani in December 2007
Majdalani sold 12000 tons of stainless steel and had a turnover of 46 million dollars in 2006. In October 2007 Mittal had acquired the Argentine steel company Acindar for 540 million dollars. Arcelor Mittal is the largest steel producer with 117 million tons while the number two, Nippon steel produces 33 million tons !
CII delegation in Buenos Aires 13 December 2007
A delegation of the Confederation of Indian Industries (CII) was in Buenos Aires on 13 December. An India- Argentina Business Meet was organised at the Indian restaurant Katmandu from1230 to 1800 hrs. It was attended by about 70 Argentine businessmen. The speakers at the Meet included Mr Stancanelli, Director general of Foreign office, Osvaldo Rial, President of the Industrial Union of Buenos Aires province, Jorge Zorreguieta President of the Food Industries association and Neville mevawala, leader of the CII delegation.
In his welcome speech in Spanish, Ambassador Viswanathan highlighted
-the short term ( 3 year) goal to take bilateral trade from 1.2 billion to 3 billion dollars and Indian investment from 800 million to 2 billion dollars.
-long term goal to build partnership in which India ( with its large and growing market ) could contribute to Argentine exports, growth and prosperity while Argentina could contribute to India's food and energy security.
In the morning, the delegation visited the Industrial Union of Buenos Aires province and had meetings with their members. This Association is planning to take a delegation to India in the first half of 2008.
The delegation had a meeting with the Governor of Buenos Aires Province Mr Daniel Scioli, who spoke in English about the opportunities for business with his province.
The CII delegation was impressed with the enthusiastic response of the Argentine business and government and the business opportunities. They plan to organise the next Indo- Latin American Business Conclave in Argentina in the second quarter of 2008.
Speech, in Spanish, at the American Chamber of Commerce, Cordoba on on Indian IT business. 27 November 2007
25 November- 8 December - Visit of Indian Soya delegation
A two member delegation visiting Argentina 26-28 November, Uruguay 29 Nov - 2 Dec and Paraguay 2-8 December.
Objective to identify and evaluate opportunities for investment and joint ventures in soy farming and soybusiness.
10-12 December -Visit of textile delegation
This 10 member government-business delegation wants to exchange information and experience with Argentine government and business on textile industry and trade.
A reception is being hosted at Hotel Sheraton, Retiro on 11 december at 1900 hrs
19- 28 November - Visit of Indian agricultural officials to conclude Phytosanitary Agreement
The conclusion of this Agreement will facilitate Argentine exports of fruits and other agroproducts to India
27- 30 November - Indian photo exihibition at Circulo Militar, Av Santa Fe 750
Inaugurated on 26 November.
Graciela on the extreme left. Ambassador Biritos on the extreme right. Ambassador Mignini next to Ambassador Viswanathan during the inaguration
