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Bolivia signs agreements with great powers for lithium and hydrocarbons

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Christian Fernsby ▼ | July 21, 2019
Bolivia has reached important agreements with major powers such as Russia, China, India and Germany regarding the industrialization of lithium and hydrocarbons, launching it into the international arena, said economic analyst Miguel Angel Marañon.
Bulo Bulo
LatAm   Bolivia has reached important agreements
He pointed out these countries are recognized worldwide markets for the marketing of Bolivian products, thanks to the nationalization of hydrocarbons in 2006 that turned the South American country into a raw material exporter, such as urea produced in Bulo Bulo (Cochabamba) or potassium chloride from the Uyuni (Potosi) salt factory.

Marañon highlighted the investments of the German company ACI Systems to develop the third phase of lithium industrialization with around 1.3 billion dollars in Uyuni, and with the Chinese firm Xinjiang Tbea Group-Baocheng for the salt flats of Coipasa (Oruro) with 2.3 billion.

He recalled that during Indian President Ram Nath Koving's visit to the country last March, New Delhi's interest in participating in strategic projects related to soft metal was expressed and he offered 13 billion dollars to invest in the hydrocarbons sector.

Besides, Bolivia's growth, economic stability and financial solvency make it a 'serious partner' for other countries to invest in different sectors, the analyst commented that, in his opinion, it is very different in the case of Argentina where the prevalence of financial and social instability makes it unattractive to sign agreements.

Bolivia registered a Gross Domestic Product (GDP) growth of 8.784 billion dollars in 2005, which has increased to 40.5 billion dollars thanks to the implementation of the model fostered by President Evo Morales, since 2006.