RIO DE JANEIRO, BRAZIL – Brazilian Economy Minister Paulo Guedes said he would present Argentina as a candidate to join the New Development Bank (NDB) of the BRICS group of countries, composed of Brazil, Russia, India, China and South Africa, the neighboring country’s O’Estado news agency reported.
After meeting with his Argentine counterpart Martin Guzman in Brasilia, Guedes stressed that the two countries play a crucial role in the food and energy security of South America and the world.
Brazil is interested in gaining access to the country’s gas reserves and welcomes Petrobras’ decision to lower the price of liquefied petroleum gas (LPG).
The Brazilian minister argued that “Argentina has abundant fertilizers and the capacity to increase current production tenfold.”
“They helped us when we reduced external tariffs. We will help Argentina under the IMF (International Monetary Fund) program. It’s a story of partnership that continues more and more. The most important goal is the integration of our economies,” he said.
Guzmán said that “relations with Brazil are fundamental and both sides have an interest in greater integration. Brazil is the most important partner for Argentina in economic and trade terms. In the energy sector, we will continue to work for greater energy integration to increase production, reduce costs and improve the competitiveness of our industry.
More: Argentina news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief