On November 17 2004, according to the consensus reached by Chinese President Hu Jintao and Argentine President Kirchner on establishing and developing the strategic partnership between China and Argentina, Chinese Foreign Minister Li Zhaoxing and Argentine Minister Bielsa of Foreign Relations, International Trade and Worship signed the "Memorandum of Understanding on Trade and Investment Cooperation Between the People's Republic of China and the Republic of Argentina" on behalf of their respective governments.

In the memo, the Argentine side recognized China's market economy status. The two sides both agreed to promote active cooperation in fields like infrastructure, housing, energy, agriculture, basic industries, education, science and technology. They also decided to continue to make joint efforts so as to expand bilateral investment and trade volume rapidly.

The two sides also decided to hold working group meetings in the early half of next year to ensure the realization of goals set in the memorandum. This will create a favorable environment for further promoting equally and mutually-beneficial bilateral cooperation in trade and investment.