BEIJING, Nov. 17 (Xinhuanet) -- Argentine says China will invest more than 19 billion US dollars in Argentina over the next 10 years for closer trade links, China Radio International reported on Wednesday.

    Argentine officials announced Tuesday that China will invest more than $19 billion in Argentina over the next 10 years, deepening trade links between the world's fastest growing economy and South America's second-largest.

    The announcement of the trade and investment agreements came as Chinese President Hu Jintao opened a two-day visit to Argentina, part of a Latin American tour widely seen as an effort by China to expand the country's economic presence in the region.

    Argentine officials said the multi-billion dollar investments would be made in energy production, infrastructure and Argentina's railway system in what would amount to the largest bilateral trade accord for the South American country since its 2001-2 economic crisis.

    "Our aim is to strengthen this relationship despite the distances," between the two countries, President Nestor Kirchner said.

    The largest investment includes a Chinese pledge to invest $8 billion in the coming years to expand Argentina's railway system, $6 billion over five years in contruction projects, along with $5 billion in oil exploration.

    Hu's arrival in Buenos Aires followed a five-day visit to Brazil where Brazilian President Luiz Inacio Lula da Silva recognized China as a market economy, a move that should make it easier for the two countries to do business.

    
(CRIENGLISH.com/AP)