Argentina and China share huge potential in trade and economic cooperation while the Argentine economy is recovering vigorously, said visiting Argentine President Nestor Kirchner in Beijing Monday.

Kirchner told a seminar on economic cooperation between China, Argentina and the South American Common Market (SACM) that Argentina hopes to expand food and agriculture exports to China.

Chinese Vice-Premier Hui Liangyu also addressed the seminar, which was attended by about 300 Chinese and Argentine entrepreneurs.

Argentina emphasizes the development of its relationship with China, Kirchner said, noting that economic ties were a priority.

The Argentine economy is currently undergoing strong recovery. The two countries should strengthen cooperation in the fields of communication, sea transportation, lumber processing, energy and raw materials, the president said.

Hui said that the economies of China and Argentina are highly complementary with a sound base of cooperation.

China welcomes entrepreneurs from Argentina and other SACM countries to invest in and enhance trade cooperation with China.

"We also encourages Chinese entrepreneurs to seek business and investment opportunities in Argentina and other SACM member countries," Hui said.

Statistics show that China is currently the fourth largest trade partner of Argentina and the largest export market in Asia for the SACM, the first common market comprised only of developing countries, including Brazil, Argentina, Uruguay and Paraguay.

Sino-Argentina trade reached 3.176 billion US dollars last year, up 122.9 percent year-on-year, and it witnessed strong upward momentum in the first half of this year.

(Xinhua News Agency June 29, 2004)