The Argentine government announced on 26 April that it would use the RMB to settle imports from China. Argentina’s Economy Minister Sergio Tomás Massa told a news conference that the use of the RMB to settle goods imported from China would help strengthen Argentina’s foreign exchange reserves. This is very important for improving the current economic situation of Argentina.
Massa said Argentina’s $1.4 billion import of goods from China in April would be paid for in RMB. In addition, an estimated $790 million worth of goods imported in May will also be paid for in RMB.
Chinese Ambassador to Argentina, Zhou Xiaoli, told a press conference that strengthening China-Argentina economic and trade cooperation is an important part of the comprehensive strategic partnership between the two countries. China attaches great importance to monetary and financial cooperation with Argentina, and encourages enterprises with Argentina to use their respective currencies for settlement in the bilateral economy, trade and investment, on the basis of respecting the free choice of the market and seeks to create a sound policy environment to promote currency settlement of the country.
(Credits, China Media Group, Beijing)
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