The economic teams of Brazil and Argentina will work on a proposal to create a common currency that can be used in trade and financial flows. The goal would be to reduce operational costs and dependence on foreign currencies.
In a statement in Buenos Aires, Argentina, Lula said that this will be done “with a lot of debate and many meetings.” “This is what will happen,” he stated. “If it depended on me, we would always have foreign trade in the currencies of other countries, so we wouldn’t have to depend on the dollar,” argued the president.
According to Lula, many countries have difficulty obtaining dollars, and this prevents agreements from being closed. “May God grant that our ministers and central bank presidents have the intelligence, competence, and wisdom necessary for us to make a qualitative leap in our trade and financial relations,” the president added.
Lula met with the president of Argentina, Alberto Fernández, at the Casa Rosada, the seat of the country’s government. According to the Argentine leader, he still does not know how this currency would work, but it takes “courage to change.” “But yes, we know what happens with national economies that need to operate 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 relations 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