The European Union/Mercosur trade talks taking place in Paraguay are attempting to advance with a ‘verbal exchange of proposals’ while negotiators continue ahead with technical aspects of a future agreement, according to Argentine sources.
Argentina has assured India of reviewing a ban on imported pharmaceutical products and announced the purchase of drugs worth 150-200 million US dollars from Indian firms, a statement said Wednesday.
Portugal’s caretaker Prime Minister Jose Socrates announced Tuesday that he has reached agreement on a bail-out from the EU and the International Monetary Fund. He said the three-year loan was a good agreement that defends Portugal.
India emphasized the need to deepen trade and investment engagements with Latin America by expanding the existing PTA with Mercosur, during a business seminar in Montevideo, Uruguay. But he added that double tax and investment protections agreements are critical to expansion.
Boeing forecasts that air carriers in Latin America will require 2,180 new airplanes worth approximately 210 billion US dollars over the next 20 years as air travel in the region out paces the world average.
Testifying before Congress Brazilian Finance Minister Guido Mantega said that international commodity prices are behind much of the country’s rising inflation, but insisted the government will take action to keep prices in check and prevent the currency from strengthening too far too fast.
Brazil’s industrial output increased a seasonally adjusted 0.5% from February although it fell 2.1% compared with March 2010, the Brazilian Census Bureau, or IBGE, said Tuesday.
European Union beef prices would be cut by more than 8% and meat production across the EU would fall in value by more than €3bn if a trade deal were agreed with Mercosur, according to preliminary assessments from an agriculture advisory body to the European Commission.
A day before Tuesday’s round of talks between Argentina’s organized labour (CGT) and the Industrial Union (UIA) to consider the possibility of a ‘social pact’ to help contain prices (inflation), the government expressed support for a law sponsored by unions that requires companies to distribute 10% of profits to workers.
Rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor, according to a new study from the Inter American Development Ban (IDB).