LatinNews Daily - 15 July 2022

In brief: Brazil seeks trade with Argentina in local currency

*Brazilian business leaders have supported the idea of facilitating bilateral trade with Argentina using local currency. The proposal was made by Argentina’s production minister, Daniel Scioli, who is currently on a commercial mission to Brazil. During his visit he has met with José Gomes da Silva, the head of business lobby, Federação das Indústrias do Estado de São Paulo (Fiesp) and Federico Servideo, the president of the Argentinean chamber of commerce in São Paulo, among other business leaders and trade representatives. Gomes da Silva said Fiesp supported the idea of facilitating trade between the two countries in local currency, with the help of both countries’ central banks, adding that he expected the “sometimes difficult” relations between Argentina and Brazil to improve with the help of Scioli, who was sworn in on 15 June. Representatives from Brazil’s central bank (BCB) will meet with Scioli on 19 July to discuss mechanisms for facilitating commercial traffic through a system of payment in local currency.

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