The South American country of Bolivia has recently taken major steps to further strengthen its economic ties with China. After Brazil and Argentina, Bolivia began to use RMB for import and export trade settlement. This move not only promotes closer financial cooperation between Bolivia and China but also opens up a new path for economic growth and stability in the region.
According to the Associated Press, Bolivia’s Minister of Economy and Finance Montenegro announced at a press conference that the RMB transaction volume between Bolivia and China from May to July this year reached a staggering 278 million yuan. This accounted for about 10% of total foreign trade during this period.
This development also opens up new opportunities for Bolivian businesses and investors. Through RMB settlement, Bolivian companies can enter the Chinese market more conveniently and participate in international trade with more confidence. This move will not only benefit Bolivia’s existing industries, but will also attract foreign direct investment, diversify the economy, and promote overall growth and development.
Our company Bolivia customers are now settled in US dollars. With the good news of the diversification of settlement methods, the purchase volume in Bolivia will increase. The best-selling products exported by our company to Bolivia include OPC Drum Xerox 700 C60 C75 , 2nd Transfer Roller Xerox DC C700 C75,2nd BTR Assembly Xerox 700 C60 C70, etc.
The multi-currency settlement will bring new opportunities to enterprises, investors, and bilateral cooperation.
Post time: Aug-02-2023