China, Argentina to increase soybean, corn trade: official

Argentina and China have agreed to expand their commercial ties by increasing soybeans and corn exports to the Asian country, Buenos Aires said Saturday.

"China approved three transgenic soybean and corn" varieties, Argentine Agriculture Minister Norberto Yahuar said in a statement.

"In the next season we will be using these approved seeds and obviously, we will be able to sell more," the minister said, after talks in Beijing with his counterpart Han Chang Fu.

The ministry also reported China's first purchase of a shipment of Argentine corn -- a 60,000-ton sale made through a national private company.

Bilateral trade between the two nations was worth some $14.5 billion in 2012, according to the Chinese embassy.

The main exports toward the Asian giant are soy products, including flours and oils.

Last May the two countries signed a memorandum to "promote the exchange of agricultural products" during an official visit to Buenos Aires by Chinese Vice President Li Yuanchao.