RIYADH: Argentina enjoys excellent ties with Saudi Arabia as it marks its 199th Independence Day anniversary on July 9, according to Ambassador Jaime Sergio Cerda.

“Excellent bilateral ties bind the two countries as Argentina holds its 199th Independence Day celebration on Thursday,” the Argentinian envoy said.

He said that proof of this is the fact that Argentinian Foreign Minister Hector Timerman came to the Kingdom on a two-day visit in February last year.

“It was the first time that an Argentinian foreign minister has visited the Kingdom. He attended the Argentinian-Saudi Joint Economic Commission meeting,” he said.

Timerman also headed a business delegation which called on Riyadh Chamber of Commerce and Industry officials, and had meetings with local businessmen.

He expressed hope that President Cristina Fernandez could also visit the Kingdom for the “South America and Arab Countries Summit” on Nov. 5 this year in the Saudi capital.

The summit was previously held in Peru (2012), Doha (2009) and Brazil (2006).

From the Saudi side, a ten-member delegation from the Foreign Ministry visited Argentina and attended a diplomatic course at the Institute of Diplomatic Studies in Buenos Aires.

“The delegation, headed by Prof. Ali Ali, studied the general history and foreign policy of Argentina at the Institute of Diplomatic Studies,” he said.

The visit was in accordance with a bilateral diplomatic cooperation between the Argentinian institute and the Academy of Diplomacy in Riyadh. On investments, he noted that a Saudi company, Almarai, acquired land in Argentina for $87 million for the production of alfalfa to feed dairy cows in the Kingdom.

He said that Almarai could not acquire a more land due to limitations under Argentinian law, but has resorted to renting other land for alfalfa and corn production.

“One good benefit of this for Argentina is the fact that it created employment opportunities,” said Cerda who joined the foreign service in 1980.

On trade, the lawyer-turned diplomat said that the bilateral volume has reached $1 billion, of which Argentina has the advantage.

Its exports to the Kingdom, which amount to $900 million, include frozen chicken, fruits, vegetables, corn, among others. Its imports include petrochemicals.