May 26 (Bloomberg) -- Brazilian President Luiz Inacio Lula da Silva said the creation of a South American bloc is a step towards the adoption of a single regional currency.

``We will work to have in the future a single central bank a single currency,'' Lula said today in his weekly radio program broadcast nationwide.

South American leaders signed an agreement May 23 to establish the Union of South American Nations, or Unasur, a bloc modeled on the European Union. The treaty sets goals for integration of energy and transportation networks and immigration policies. It also creates a South American parliament in Cochabamba, Bolivia.

Lula referred to the Unasur treaty, which was signed in Brasilia, as the ``fulfillment of a dream.''

He said Brazil must help Paraguay, Uruguay and Bolivia strengthen their economies.

To contact the reporter on this story: Andre Soliani in Brasilia at asoliani@bloomberg.net

Last Updated: May 26, 2008 07:56 EDT