Mercosur

Mercosur
Thursday, July 30th 2015 - 22:31 UTC

UK Overseas Territories agree on a 'unified front' for December's JMC in London

The participants of the meeting in Hamilton pose for the 'family picture' at the end of discussions

Leaders of several British Overseas Territories meeting in Bermuda released a joint statement following a Pre-Joint Ministerial Council two-day meeting held last week in Hamilton. The goal of the international gathering was to discuss matters of common interest in order to present a unified front next December at the JMC in London.

Thursday, July 30th 2015 - 22:28 UTC

For the sixth straight time, Brazil raises interest rate 50 points to 14.25%

Copom said keeping rates at 14.25% level for a sufficiently long period of time was needed for inflation to converge to the target in late 2016.

Brazil's central bank raised interest rates to 14.25% from 13.75% as expected on Wednesday, delivering another hefty increase to stifle inflationary risks from a sharp depreciation of the local currency. This is the highest rate since October 2006.

Thursday, July 30th 2015 - 09:39 UTC

Brazil's agriculture minister optimistic about a Mercosur/EU trade accord by end of the year

“Mercosur is on the right track, countries of the region have virtually agreed on the proposals to exchange with the European Union”, said Ms Abreu

Brazil' minister of agriculture Katia Abreu said she was very optimistic about Mercosur reaching a trade agreement with the European Union, and if there are problems look to Europe, because Mercosur members have almost agreed and finished their proposal.

Tuesday, July 21st 2015 - 04:28 UTC

Falklands' oil industry: Mercosur special declaration in support of Argentina's Malvinas dispute

“Aware of the presence of a semi-submersible rig in the Argentine continental shelf involved in hydrocarbons exploration activities non authorized by Argentina...”

The latest Mercosur summit, held last week in Brazil included a special statement, --besides the main regular declaration with 69 articles--, blasting the UK for violating international law and Argentine domestic law over the exploration of hydrocarbons “in the Argentine continental shelf in proximity of the Malvinas Islands”.

Saturday, July 18th 2015 - 09:29 UTC

Mercosur agrees to give intra-trade a new boost eliminating barriers

Dilma Rousseff formally hands the pro tempore presidency of Mercosur for the next six months to Paraguayan president Horacio Cartes

Mercosur agreed at the Brasilia summit that in the second half of the year they will address alternatives for the elimination of tariff and other similar barriers that impede the natural flow of trade of goods and services among its members. The initiative was agreed by Common Market Council, CMC, on the first day of deliberations and confirmed on Friday by the presidents of the group's full members.

Saturday, July 18th 2015 - 09:15 UTC

Cristina Fernandez hails Mercosur success in integration and in promoting a political block

“As responsible leaders, we cannot stop noticing the challenges we have ahead,” Cristina Fernandez said stressing the need to address destabilization attempts

In what can be considered her last speech before a Mercosur summit, Argentine president Cristina Fernandez, who is stepping down next December, hailed what she called the “magnitude of the importance of integration” in South America with the inclusion of both Venezuela and Bolivia showing the “success and the resounding failure for those who forecasted for years that the Mercosur was going to fail.”

Friday, July 17th 2015 - 07:14 UTC

Uruguay after a Mercosur 'action plan' to eliminate all inter-trade restrictions

“Our maximum aspiration is for the summit to agree on making Mercosur more transparent, on admitting our shortcomings”, said the Uruguayan official

Uruguay is attending the Mercosur summit in Brazil hoping the group implements deep changes, particularly referred to the free circulation of goods, services and production factors, and considers a six month period should be sufficient trial for the changes to become effective.

Thursday, July 16th 2015 - 09:28 UTC

Paraguay, as chair of the group, determined to return Mercosur to 'its roots'

“The idea of the meeting was to elaborate on how to return Mercosur to its roots, that is its trade and commercial profile and less politics” said Loizaga.

Paraguay is committed to return Mercosur to 'its roots', reach an agreement on some of the original fundamentals, eliminate restrictions to inter-trade and strongly promote the trade accord with the European Union. This is scheduled to take place in the coming six months once Paraguay is handed Mercosur' chair at the group's midyear presidential summit that begins on Thursday in Brasilia.

Thursday, July 16th 2015 - 09:03 UTC

Bolivian private sector not convinces of full incorporation to Mercosur

President Evo Morales has confirmed he will be participating of the Mercosur midyear summit taking place in Brasilia

Bolivia's incorporation as a full member of Mercosur will be addressed as of Thursday in Brasilia at the group's two-day presidential summit, an issue which could be completed by the first half of next year, despite some warnings from Bolivia's private sector.

Wednesday, July 15th 2015 - 08:10 UTC

Mercosur summit in Brasilia with a conflicting agenda; Paraguay takes chair

President Dilma Rousseff faced with a serious recession is trying to increase the scope of markets for Brazilian exports

Mercosur will be holding its half year presidential summit in Brasilia next Thursday and Friday, an event which will expose an abundance of trade and political conflicts, discrepancies and recurrent challenges despite all its members commitment to integration. Besides full members, Argentina, Uruguay, Paraguay, Venezuela and Brazil, leaders from Chile, Peru, Ecuador, Bolivia, Colombia, Guyana and Surinam have also been announced.

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