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Daniel Scioli anticipated that Argentina is working on a “great bilateral agreement” with Brazil

Daniel Scioli anticipated that Argentina is working on a “great bilateral agreement” with Brazil

After the meeting held yesterday by the president Alberto Fernandez with his brand new Brazilian pair Luiz Inacio Lula da SilvaScioli anticipated that he will meet today with the new Minister of Foreign Affairs of Brazil, Mauro Vieira.

“I am the first ambassador to receive in line with what Lula has done with Alberto”said Scioli, who specified that the meeting will focus on advancing with the details of the bilateral agreement.

He added that, after the assumption of Lula in Brazil, “A great energy, industrial, financial and agri-food integration is coming”given that “all the conditions are in place to give a great boost” to the relationship between the two States.

Daniel Scioli.jpg

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Argentina-Brazil bilateral link

After noting that even with the difficulties in the relationship during the presidency of Jair Bolsonarosince he assumed the Embassy it was possible to reverse a relationship that was in the “worst moment in history”reinstating Brazil as the first trading partner.

Scioli emphasized that “the fact that the two presidents have a great personal and political harmonyand that they instruct their ministers to advance in this objective makes everything much easier”, and affirmed that, although in the long term the objective is to aim towards a single currencywill immediately search “Strengthen the payment system in local currencies” with Brazil.

With its instrumentation, the ambassador indicated that the compensation for imports will go from being daily to a period of 180 days, which, he explained, “will allow the reserves to be decompressed immediately for imports while the next harvest comes and the end of the the gas pipeline”, in addition to making it possible for there to be “no type of restrictions on bilateral trade”.

The measure, which is being outlined between the central banks and the economic portfolios of both countries, will also bring a benefit to Brazil by “increasing bilateral trade with Argentina.”

President Néstor Kirchner gas pipeline

In this way, Brazil will finance the second stage of construction through National Bank for Economic and Social Development (BNDES) of that country.

“The second stage will allow us to export more and more gas to Brazil, which needs it, and at more competitive prices than those it currently buys because Bolivia’s reserves are declining,” he said.

pipes gasoducto.webp

Specifically, the BNDES is working -since the last months of Bolsonaro’s administration- on the technical part to finance the inputs that are acquired from Brazil for the construction of the Gas Pipeline, according to Scioli, who affirmed that this agreement “also it will decompress the use of reserves”.

The second stage of the gas pipeline will extend 583 kilometers from Salliqueló, in the province of Buenos Aires, to San Jerónimo, in Santa Fe.

The works in the second stage will allow expand capacity by 25% of national trunk pipeline transportation systemvaluing the Vaca Muert reservesa.

commercial exchange

For his part, last December, This one with Brazil was once again a surplus for Argentina with a slight favorable balance of US$4 millionTherefore, it extended the trend registered in November after 11 consecutive months of deficit, according to figures released yesterday by the Government of the neighboring country and reviewed by the consulting firm Abeceb.

Looking ahead to 2023, Abeceb analyzed that “Lula’s return to the presidency and the bilateral meeting with Alberto Fernández during his first day in office -as well as the confirmation of a second meeting towards the end of this month- have increased expectations of a 2023 in which the bilateral relationship with Brazil could be deepened”.

Source: Ambito

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