President Luiz Inacio Lula da Silva (PT) assumed on Thursday (3) the rotating presidency of the bloc and argued that Mercosur countries use their local currencies in commercial transactions within the block, to reduce costs.
“We can decrease costs and reduce currency risks using our own coins. We need a payment system in local and modern local currencies that facilitates digital transactions.”
Mercosur concluded on Wednesday (2) negotiations of a free trade agreement with the European Block EFTA, formed by Switzerland, Norway, Iceland and Liechtenstein, and also finished negotiations with the EU. Both cases need the definitive signature.
“I am confident that by the end of this year we will sign the agreements with the European Union and EFTA, creating one of the largest free trade areas in the world,” said the president.
Another point raised by Lula was the benefit of critical minerals extracted from soil from group countries. He argued that the operation should occur locally, with the transfer of technology and job and income generation to the region.
