BUENOS AIRES, Sept 1 (Reuters) - International Automobile ⁠Federation (FIA) president Mohammed Ben Sulayem said he would support efforts for Argentina to return ⁠to the Formula One calendar and world rally championship.

Speaking to news network A24 after ‌meeting Argentine president Javier Milei at the motorsport governing body's American Congress in Buenos Aires, which ends on Wednesday, the Emirati said Argentina had both history and a track record.

"I will support the initiative to have an F1 race or the ​world rally championship here in Argentina," he added. "We need to ⁠develop places where races can be ⁠held sustainably, where there is the willingness, the investment, the fans and the support from the government ⁠to ‌make it happen.

"Now, beyond the emotional aspect, there is also the rational side when it comes to the F1 calendar. Does Argentina deserve it? It does, but there is a ⁠process to go through, there is a business plan and ​there is a limited number ‌of slots. If Argentina comes in, someone else has to leave."

Argentina has Franco Colapinto, with ⁠Renault-owned Alpine, as ​its sole current F1 driver but was home to the late 1950s five-time champion Juan Manuel Fangio as well as multiple race winner and 1981 championship runner-up Carlos Reutemann. The country last hosted a Formula One race ⁠in 1998.

Rally Argentina last took place as part of ​the world championship in 2019.

Liberty Media-owned Formula One, run by Stefano Domenicali, draws up the calendar and runs the commercial side while the FIA is the governing body responsible for sporting matters and effectively rubber ⁠stamps the schedule presented to it.

The calendar is currently at 24 rounds, although this year's is set to be less due to conflict in the Middle East, and Domenicali has said it will not go beyond that.

Brazil hosts South America's only F1 race, at Sao Paulo's Interlagos circuit, but Milei ​said last month that he would push to bring the sport ⁠back to Argentina. Formula One is also looking at having a race in Africa and there is ​competition from other countries wishing to come in.

Buenos Aires' Oscar ‌and Juan Galvez Autodrome has been under renovation since ​the start of the year to achieve Grade One circuit status, a designation that would allow it to host such races.

(Reporting by Alan Baldwin in LondonEditing by Toby Davis)