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During 2013 trade with payments in SUCRES has reached $850 millions

Caracas, 27th august.- Trade through the Unitary System Regional Payments (SUCRE) between member countries has exceeded 850 million dollars in 2013, President of the Central Bank of Venezuela (BCV), Eudomar Tovar said.

 

Until the date, commercial operations have reached 750 million "sucres", that means about 850 million dollars (a "sucre" is equivalent to $ 1.25), said Tovar, who is a member of the Regional Monetary Council SUCRE.

 

Tovar said that during the first year of the creation of this system, trade reached 12 million dollars. In 2011 there was an increment, reaching 246 million "sucres", "operations increased significantly." While in 2012 it was 1 million 500 thousand "sucre".

 

The Unitary System of Regional Compensation, is a mechanism of cooperation, integration and economic and financial complementarity between its member countries (Ecuador, Bolivia, Cuba, Nicaragua, Venezuela and planned to enter Uruguay), which was created by a Consultative Treaty signed on October 16, 2009.

 

"SUCRE, is a mechanism that allows transactions in local currencies without use foreign currencies, except for compensation that are made every six months. This means that foreign exchange saved can be used in other activities that are of most interest to our economy" he said.
He considered that there is a need to diversify the economy and SUCRE, as well as the entry of Venezuela to the Southern Common Market (Mercosur), it is playing a key role to achieve it.

 

"These initiatives that are being taken, which have to do with the SUCRE and Mercosur mechanism, lead to our production levels from the manufacturing standpoint, in all sectors, there is the need to encourage them and I have full security that (transactions) through the Sucre will help strengthen our industrial fabric and our economy, "he said.

Source: Agencia Venezolana de Noticias.

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Contact : contacto@sucrealba.org

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Address: Av. Tamanaco de la Urbanización El Rosal,

Edif. La Unión, Local 3, PB. Municipio Chacao - Estado Miranda

Phone:  Master (+058) 212-9528618  / Fax: (+058) 212-9528618

Contact: contacto@sucrealba.org

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