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PRESS RELEASE : JOINT STATEMENT BETWEEN ARGENTINA AND MALAYSIA, BUENOS AIRES, 19 MARCH 2019

JOINT STATEMENT

BETWEEN

ARGENTINA AND MALAYSIA,

BUENOS AIRES, 19 MARCH 2019

 

  1. The Minister of Foreign Affairs of Malaysia, Dato’ Saifuddin Abdullah, carried out a working visit to Argentina from 18 - 19 March 2019, and, will participate at the Second High-level United Nations Conference on South-South Cooperation (BAPA + 40 Conference), in Buenos Aires.

 

  1. The Malaysian Foreign Minister will call on President Mauricio Macri, affirming the warm regards of Malaysia to Argentina. The Foreign Minister also called on the Argentine Foreign Minister, H.E. Jorge Marcelo Faurie and later held a Bilateral Consultation with the delegations from both sides.

 

  1. The Ministers discussed subjects of common interest of the bilateral, regional and multilateral agendas. They agreed on the excellent state of the bilateral relationship and expressed their will to enhance it, as more needs to be done. They expressed hope to finalise pending negotiations on science and technology, agriculture, and cooperation in the field of training for diplomats, and to advance negotiations on education and cooperation in the transfer of sentenced persons and in the enforcement of penal sentences.

 

  1. The Argentine Foreign Minister expressed his appreciation for the support given by Malaysia to the accession of Argentina to the Treaty of Amity and Cooperation in Southeast Asia (TAC), that gives emphasis to the common interest in increasing economic and commercial relations with this regional association, as well as the support given to the Argentine candidature for World Expo 2023, in Buenos Aires.

 

  1. It was observed with satisfaction that bilateral trade in 2018 amounted to U$D 1.3 billion and that numerous opportunities exist for its expansion. Argentina reaffirmed its interest in moving forward with the reopening of the Malaysian beef market, bearing in mind the requirement to comply with the Halal certification. Argentina ratified its will to work jointly on agroindustrial matters, especially the area of Biotechnology.
  2. Both sides expressed their satisfaction on the planned investment of U$D 2.3 billion in the next four years from the Malaysian oil company, PETRONAS together with Yacimientos Petrolíferos Fiscales (YPF) from Argentina for shale oil production in Vaca Muerta, that was announced last December.

 

  1. Both sides welcomed the interest of Argentine company, IMARTEK in Malaysia, producing turbines for hydroelectrical dams.

 

  1. The Ministers agreed to support existing investments in both countries and welcome more investment opportunities for both countries.

 

  1. On bilateral technical cooperation, the Ministers expressed their enthusiasm in both countries working closely through increased cooperation in various areas of mutual interest including agribusiness and forensic science as well in deepening political, economic and people-to-people relations.  Foreign Affairs Minister Faurie expressed appreciation for the fellowships granted by Malaysia on Technical Cooperation.

 

  1. Both Ministers concurred that as middle income democracies with open economies, Argentina and Malaysia, shall strive to work together in the international fora on issues of common interest. They underlined their commitment to multilateralism and the role of the United Nations in the maintenance of peace, international security and the promotion of economic and social development. They emphasized the importance of a multilateral trading system based on rules, open, transparent, inclusive, non-discriminatory and equitable, and recognized the need to adapt the World Trade Organization to present and future challenges.

 

  1. The Minister of Foreign Affairs of Malaysia congratulated Argentina for organizing the II High-level United Nations Conference on South-South Cooperation and announced his readiness to strengthen his support to the South-South Cooperation for the achievement of the Sustainable Development Goals.

 

  1. Both Foreign Ministers exchanged Notes on the establishment of a Bilateral Consultation mechanism as an instrument aimed at promoting the development and strengthening of relations between the two countries.

19 March 2019