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SUCRE shows goodness at the International Fair of El Salvador

(Caracas,21-11- 2016).- The benefits of the operations in the Unitary System of Regional Compensation of Payments (SUCRE) were presented in the framework of the Trade and Investment Opportunities forum, held in the Petrocaribe Pavilion, within the International Fair of El Salvador carried out until this Sunday November 20, 2016.

 

The director of the Central Bank of Venezuela, Pablo Pinto, explained the advantages of this mechanism for the countries that make up the Petrocaribe agreement as potential markets for trade. The SUCRE, he said, is a direct integration mechanism, without intermediaries that seeks to boost domestic production and support the balance of trade.

 

Pinto said that the scheme works through the Regional Monetary Council, created with the agreement and represented by each country that guarantees trade transactions through a unit of account "sucre" that provides stability in the relative prices of currencies , Boosting its constant operations.

 

The mechanism is designed to work directly with the businessmen, through banking operators, who make their requests for compensation to the Central Banks, who are the ones who process each request.

 

Another advantage is that the transactions are in real time, they only take 24 hours to become effective, as they have the backing of the strongest financial institutions in the economies of the participating countries. It also has the Reserve Fund and

Convergencia Comercial, which allows to cancel in the event that some country has difficulties to pay its obligations.

 

SUCRE emerged in 2008 as a result of an international agreement. It offers advantages in saving foreign currency and creates facilities so that the entrepreneurs can be managed within this System to make exports.

 

Up to 2015, SUCRES transactions had been carried out for an equivalent of 2,897 million dollars, with a rhythm of 3 daily operations, which have sold seafood, vehicles, crude palm oil, chemicals, machinery and equipment, Constructions manufactured, products for the industrial sector and food.

 

Source: RNV / CMR – SUCRE

 Countries of the Regional Monetary Council

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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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

Derechos Reservados ® Consejo Monetario Regional - 2016

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    • SUCRE +
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