December 3, 2023

Brighton Journal

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Rousseff, Massa’s Brazilian key in China | His appointment as Chairman of BRICS Bank opens up new vistas

Rousseff, Massa’s Brazilian key in China |  His appointment as Chairman of BRICS Bank opens up new vistas

Special Consul of Shanghai

Economic Minister’s visit to China Sergio Massa – It has participation as an important political element Maximum Kirchner– It has two very relevant milestones. First of allA quest for the Xi Jinping government to double free access money to Argentina within the framework of the yuan swap. SecondThis is through the political support of Brazil New Development Bank (NDB)BRICS Bank is another variant of financing for the country, which seeks import deals entirely in dollars and local currencies.

In that context, The inauguration of Brazilian Dilma Rousseff, head of the NBD, a month ago opens up new vistas. The bank, which was formed in 2014 by India, China, Brazil, Russia and South Africa, will sit down with Minister Massa this Thursday, confirmed by the organizers of the agenda. Page 12. One of the possibilities on the table would be in Argentina’s favor, in Article (No. 7) of the NDB regulation, which today enables only BRICS member countries to access credits that are part of the contingency fund for countries with currency crises. Although the country is not the only country interested in opening the article, national authorities want to be fully involved in the debate.

Rousseff’s nomination gesture is a political turn in Brazil’s attitude toward Argentina. The former Brazilian president replaces Marcos Troijo, who was appointed by Jair Bolsonaro’s government. The situation with Brazil, however, continues to be particularly challenging, as bilateral trade is not limited to local currencies as progress is being made with the BRICS. Lula’s Economy Minister, Fernando Haddad, was promised that he would provide definitions on the possibility of paying for Brazilian exports to Argentina with financing from Brazilian banks. That scene is undefined.

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Energy, another axis

Wednesday will mark the start of meetings with Argentine officials focused on energy. Massa’s idea is that by the end of this year, the dollar’s reserves will be allocated equally to agriculture and energy. To this end, the government’s administration stands out in “record time” for the Néstor Kirchner gas pipeline that will take gas from Vaca Muerta. Agustín Geres, president of Enarza, who was directly involved in the work, is on a paid trip to China.

In this context, the meeting schedule for Masa and his officers is detailed and includes the following points. Meeting with officials of China Kejoba Group Corporation (CGGC) focusing on the current project of Santa Cruz River Dams. The day will continue with a working meeting with representatives of Power China, whose plans for the country’s energy development are a common thread.

In addition, the Minister will hold a meeting with officials of CET – State Grid Company, in which the objective of expanding the electric power transmission system will be addressed. On Wednesday, Massa will continue the agenda with a working meeting with officials of the Tibet Summit Resources Institute. On schedule, various initiatives will be used to encourage investment in mine development and lithium extraction.

Later, the minister will round off his day with a full agenda of meetings with officials from Ganfeng Lithium Company and Xingshan Holding Group. In both the meetings, issues related to promoting investments in various provinces related to mining development will be discussed.