Without any progress towards a common currency, the Minister of Economy, Sergio Massa, and his Brazilian counterpart, Fernando Haddad, reviewed on Monday afternoon (23.01.2023/XNUMX/XNUMX) the points of the economic agreement signed by both countries. The bilateral agenda focused on Improve trade flow and strengthen regional integration links throughout South America.
The memorandum seeks to advance the reduction of barriers in the exchange of goods and services, and the revitalization of trade through Implementation of import financing lines operated by banking entities and guaranteed by the governments of both countries, with terms, amounts and counter-guarantees agreed upon on a case-by-case basis according to risk criteria.
In addition, the text addresses the expansion in the use of Local Currency Payment System (SML), with the intensification of negotiations between central banks and other responsible bodies. And it seeks to advance agreements and instruments that facilitate the free flow of foreign currency between countries.
Massa admitted that it is necessary to work on the issue and that the Ministry of Economy will send a mission to that end, along with officials from Banco Nación. The delegation will arrive in Brasilia in the first week of February.
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