The leaders of Brazil and Argentina resolved yesterday in Brasilia to promote a free trade agreement with the European Union (EU). Bolsonaro, who came to power on January 1, underlined his desire to “strengthen” ties with Argentina, one of Brazil’s main economic partners, and expressed his conviction that relations between the two countries will continue on the right track.
Presidents Sebastián Piñera and Jair Bolsonaro agreed to start the construction of the railway, which will pass through Paraguayan territory and northern Argentina.
Bolivia is among the ten countries with the highest minimum wage in Latin America. The country is in 8th place with a minimum wage of $US 300 according to a report from technology and social media expert Fernando Bruccolery published in the portal medium.com. Uruguay is in the first place of the list with a minimum wage of $US463 followed by Chile with a minimum salary of $US434.
We wish you a very Happy Holiday season and a peaceful and prosperous New Year from everyone at Bolivia Económica.
We will be back in January.
Bolivia expects to sign new gas contracts with Brazilian firms, announced the Hydrocarbons Minister, Luis Alberto Sanchez. According to Sanchez, the new contracts will generate more profits than the current one with the state-owned Petrobras. He added that Bolivia will continue to export gas to Brazil and Argentina even at better prices. However, both Brazil and Argentina states have announced that they need fewer volumes of gas.
With 20 projects, Bolivia continues to occupy the second place in financial education in Latin America, according to the Latin American Bank Federation (Felaban). Argentina ranks first while Colombia and Paraguay are in third place. Chile, El Salvador, Guatemala and the Dominican Republic are the countries that show the lowest numbers of financial education initiatives.
Bolivia proposed to strengthen Mercosur to confront the global economic crisis and minimise the impact of trade wars. Within this context, the country seeks the creation of a regional commision to project futures scenarios and to combat problems such as extreme poverty. President Evo Morales arrived this Tuesday in Montevideo, where a summit of the regional integration group is taking place, to raise the proposal. He stated that “n these times where economic problems arise, Mercosur must be more united.”
YLB & ACI Systems were created yesterday by the representants of Bolivia and Germany. Through the joint venture agreement, Bolivia will provide the lithium commodity while the German company will provide the technology to create lithium batteries. The operation will only cover 0.4% of the total area of the Salar de Uyuni that reaches 10,000 square kilometres.
Russian Ambassador in Bolivia, Vladimir Sprinchan, said that his country is interested in importing llama meat and wool from Bolivia. Llama meat has increased its international prestige due to its high level of proteins and lack of cholesterol. The Russian Ambassador said that both products, meat and wool, are of the highest quality.
The Organisation for Economic Co-operation and Development (OECD) lowered its forecast for the global economic growth from 3.9% to 3.5% due to current risks to the global economy. It is the second time in two months that the OECD reviews its projections for global growth. The organisation urged its members to reinforce their cooperation due to the risk of trade wars.