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China, Argentina to push for equitable financial system

(Xinhua)
Updated: 2009-08-21 08:09

BUENOS AIRES: China will work with Argentina to push for establishing an equitable international financial system at the Group of 20 (G20) summit later this week, Chinese Ambassador to Argentina Zeng Gang announces on Sunday.

Both countries will advocate reforms to the financial multilateral institutions at the summit of the Group of 20 developed and emerging countries, Zeng said.

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"China and Argentina are emerging countries and members of the G20 and both have wide common interests in the reform of the international financial system," Zeng told reporters here.

Zeng said China will demand a bigger representation of emerging countries as part of the reform to the financial multilateral institutions, in order to establish a fair international financial system.

"We hope both countries will reinforce coordination and cooperation" at the G20 meeting to promote the reform in the interests of developing countries, Zeng added.

Bilateral trade between China and Argentina, which are "important emerging countries," reached 14.4 billion US dollars last year, growing 45.5 percent over 2007, Zeng said.

China has become the second largest trading partner for Argentina, Zeng added.