Argentina to Use Yuan to Settle Imports from China
Apr 28, 2023
According to the Chinese Embassy in Argentina, the Argentine government announced on the 26th that it will use RMB to settle trade in goods imported from China.
On the 26th, Argentine Minister of Economy Massa met with business representatives and held a press conference. Chinese Ambassador to Argentina Zou Xiaoli was invited to attend.
Massa announced at a press conference on the same day that starting from May this year, Argentina's imports from China will all be settled in RMB instead of US dollars. At the same time, the efficiency of import approval will be improved, and the approval time for imports from China will be shortened from 180 days to 90 days. sky.
Massa pointed out that this move will help strengthen Argentina's foreign exchange reserves, increase economic freedom, maintain the scale of import trade, consolidate the development momentum of Argentina-China trade, and safeguard the common interests of enterprises of the two countries. He said that the Argentine government has decided to make more active use of the local currency swap agreement between Argentina and China. In the next few months, Argentina is expected to save about US$4.4 billion in foreign exchange expenses.