The economic teams of Brazil and Argentina will work on a proposal to create a common currency that can be used in commercial and financial flows. The objective would be to reduce operational costs and the dependence on foreign currencies.
In a statement in Buenos Aires, Ar-gentina, Lula said this will be done “with much debate and many meetings.” “That’s what will happen,” he said. “If it depended on me, we would always have foreign trade in the currencies of other countries, so we wouldn’t need to depend on the dollar,” argued the president.
According to Lula, many countries have difficulty acquiring dollars, and this prevents agreements from happening. “God grant that our ministers and central bank presidents have the intelligence, competence, and wisdom necessary for us to take a quality leap in our commercial and financial relations,” added the president.
Lula met with the president of Argentina, Alberto Fernández, at the Casa Rosada, seat of government of the country. According to the Argentine mandatary, he still does not know how this currency would work, but it takes “courage to change.” “But, yes, we know what happens to national economies having the need to function with foreign currencies and we know how harmful that is,” Fernández said.
This is Lula’s first international trip after taking office. The visit, at the invitation of President Fernández, marks the resumption of the relationship between the two countries, after a period of estrangement between the governments.
After the bilateral meeting, the presidents signed a comprehensive joint declaration in different areas. Several cooperation instruments were also signed between the two countries in the areas of defense, health, science and technology, economic-financial integration, and Antarctic cooperation.
Source: Agência Brasil