In China trade, Uruguay businesses will ‘for sure’ use more yuan, says consul general in Guangdong
- At a China-Latin America private sector forum in Guangzhou, official points to the growing trend of using yuan in trade as China’s influence rises
- Uruguay is also trying to diversify its offerings to China to include the types of goods sent elsewhere, such as wine and chicken, and a possible free-trade agreement is on table
With up to one-third of his country’s overall exports reaching the Chinese market, the acting consul general of Uruguay in Guangzhou said that settling trade in the yuan would be a convenient option, and that his government is keeping an open mind when it comes to currency use.
Speaking on the sidelines of a China-Latin America private sector forum in Dongguan city on Wednesday, Facundo Fernandez Guerra told the Post that Uruguayan authorities are taking “every step to make business easier” for both sides.
“We’re open to discussing … further exchanges and different currency exchanges,” he said. “Yes, for sure, businesses will use more yuan to trade in the future. It’s a trend. And it shows how China’s influence is increasing in different parts of the world.”
Fernandez Guerra highlighted that “it’s a business decision” on what currency to use, but “at the end of the day, [the Uruguayan government is] trying to achieve the facilitation of business … to make things easier.”
“Uruguay is an open country and the country that can easily promote free currency trade,” he added. “It’s the same [for] US dollars, pesos and euros. Uruguay will not put any control on currency and trade exchanges.”
