China-Argentina economic and trade cooperation strengthens and Argentina will use RMB to settle goods imported from China
CCTV News: On the 26th local time, Argentine Economy Minister Massa held a press conference, announcing that Argentina will stop using US dollars to pay for goods imported from China, and will instead use RMB for settlement.
Zou Xiaoli, the Chinese ambassador to Argentina, was invited to attend the press conference and delivered a speech. The President of the Central Bank of Argentina, Pesse, the Director of the General Administration of Customs of Argentina, Mitchell, and entrepreneurs from China and Argentina witnessed the release of the news.
Massa introduced at the press conference that after reaching an agreement with different companies, Argentina will use RMB to pay for goods imported from China this month, with a total value equivalent to 1.04 billion US dollars. Massa said that the use of RMB can speed up the import of Chinese goods in Argentina in the next few months, and the efficiency of relevant authorization will be higher. Argentina is also expected to use yuan to pay for imports from China worth the equivalent of $790 million to $1 billion starting in May. Massa emphasized that the use of RMB for settlement can keep Argentina’s economic activities active, and it is conducive to the economic and trade exchanges between Argentina and China, and it can also maintain the economic operation level that Argentina needs.
Chinese Ambassador to Argentina Zou Xiaoli said that strengthening China-Argentina economic and trade cooperation is an important part of the comprehensive strategic partnership between the two countries. The economies of the two sides are highly complementary and there is huge potential for cooperation. China attaches great importance to monetary and financial cooperation with the Arab side, and is willing to work together with the Afghan side to encourage enterprises to use more domestic currency settlements in bilateral economic, trade and investment, reduce exchange costs, reduce exchange rate risks, and contribute to Promote local currency settlement and create a favorable policy environment. China is willing to further intensify currency swap cooperation with Afghanistan under the existing framework, and supports playing a greater role in the RMB clearing bank in Afghanistan. China has confidence in Afghanistan’s maintenance of financial and economic stability, and confidence in the bright prospects of China-Arab cooperation.
In January of this year, the Central Bank of Argentina stated that Argentina and China had formally expanded the currency swap agreement, which would strengthen Argentina’s existing foreign exchange reserves of 130 billion yuan and activate a 35 billion yuan disposable quota.