New Delhi, Oct.14 (ANI): India and Argentina on Wednesday recognized that climate change is a global challenge with strong economic, environmental and social dimensions.

The leaders of the two countries said climate change impacts all countries, but is particularly severe for developing countries, given their vulnerabilities, inadequate means and limited capacities to adapt to its effects.

They agreed that, in the fight against climate change, priority has to be given to mitigation and adaptation and this has to be supported by developed countries in terms of transfer of technology and finance to meet the incremental costs of adaptation and mitigation projects in developing countries.

Both sides reaffirmed their commitment to addressing Climate Change in accordance with the principle of common but differentiated responsibilities and respective capabilities of the UN Framework Convention on Climate Change [UNFCCC] and enhanced implementation of the Convention under the Bali Action Plan, so as to reach an agreed outcome at COP15 of the UNFCCC in Copenhagen.

Argentine President Cristina Fernandez de Kirchner led a high-level delegation that included the country’s Foreign Minister and a large business delegation.

Kirchner is in India on three-day visit to enhance bilateral relations and trade between the two countries.

Her visit has taken place coinciding with 60th anniversary of the establishment of diplomatic ties between India and Argentina.

This is also the first Presidential visit from Argentina in 15 years. The last visit was by President Menem in 1994. The last visit by an Indian Prime Minister to Argentina was in 1995 by PV Narasimha Rao for the G-15 Summit. (ANI)