2023-05-27 22:50:00
The Minister of Economy, Sergio Massaheld a meeting this Saturday with the Buenos Aires governor, Axel Kicillofand the president of AySA, Malena Galmariniin which the agenda of agreements between Argentina and China linked to the province of Buenos Aires.
In this regard, the Laferrere, Agua Norte and AMBA II projects stood out, consisting of sewage, water and electricity infrastructure works that will improve services for the inhabitants of the Buenos Aires suburbs.
Massa’s trip to China
The meeting took place prior to the Economy Minister traveling to China where he will participate between May 30 and 31 in the annual meeting convened in China by the bank of the BRICSwith the aim of obtaining support to strengthen Argentina’s hard-hit currencies.
During his visit to Shanghai, the national official also hopes to obtain a signal from the BRICS New Development Bank to guarantee the imports that Argentina makes from Brazil, so that the Central Bank’s reserves are not affected.
Máximo Kirchner will travel to China with Sergio Massa
Within the framework of this summit, another of the goals is to achieve greater yuan availability for the payment of imports through the swap with the Asian country.
The Tigrense was invited to the annual meeting convened by the BRICS bank to discuss the modification of the statute of the financial institution that allows supporting the financing of exports from Brazil to Argentina.
President Lula da Silva began these negotiations in April following the visit of Alberto Fernandez to the neighboring country.
Massa’s agenda in China
Massa’s agenda includes a stopover in Beijing and the negotiation of a increase in the use of authorized yuan in bilateral trade.
The swap with China is US$ 18,000 million, and the increase was from US$ 1,000 to 5,000 million that are being used. Massa will seek to expand the capacity of use, not the swap, they specified from the Ministry of Economy.
According to official data, the Government authorized imports in yuan to the Asian country for US$1.7 billion in the year, almost a third of the US$5 billion authorized by China. The idea now is to raise the amount to US$ 9,000 million.
China encourages swaps with its currency so that the yuan becomes an international currencyeven within the IMF, in its ongoing dispute with the United States over global trade.
In the Argentine team there is optimism regarding the results that can be obtained in China. They even point out that in the second stage of the trip, in Beijing, the silk road action plan will be addressed, which involves investments, some in trains and the extension of the Cauchari solar park in Jujuy.
It would also include gas pipeline that takes Vaca Muerta gas to southern Brazil.
ED
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