Mercosur officially begins this Friday trade negotiations with the European Free Trade Association, EFTA, which brings together those countries that do not belong to the European Union, EU, that is Switzerland, Norway, Iceland and Liechtenstein, and that in a couple of years could see the UK, negotiating Brexit, joining.1 comment
Mercosur representatives will be meeting their European Union counterparts this week, beginning Monday, in Brussels in anticipation of another round of trade and cooperation discussions scheduled for March in Buenos Aires. Mercosur members, under the coordination of Argentina, which currently holds the group's chair are attending with a common position reached after several days of videoconferences.1 comment
Mercosur foreign ministers will be meeting next March 9 in Buenos Aires in the framework of Argentina's pro tempore chair and following on the Argentine/Brazilian presidents recent meeting when it was decided to give the group a new thrust taking advantage of the new world scenario.1 comment
Uruguay's budget deficit reached 4% of GDP during 2016, equivalent to US$ 2.043bn, the worst performance since 1989, according to the latest figures released by the government's stats office, INE. The previous year, 2015 ended with a budget deficit of 3.6% of GDP, which also set a record only comparable to 2002 (3.7%), when Uruguay underwent one of its most challenging financial meltdowns in decades.
The leaders of Brazil and Argentina said on Tuesday they would pursue closer ties with Mexico and other Latin American nations alarmed by U.S. President Donald Trump's promises to tear apart trade deals and build a wall in the Mexican border to protect American jobs.
Uruguayan president Tabare Vazquez, six cabinet ministers and a numerous business delegation begin on Monday a two weeks official tour of Germany, Finland and Russia to increase political and trade links, particularly in the “new international scenario” and hopefully advancing in locking the long delayed accord between the European Union and Mercosur.
Brazil and Argentina will attempt to eliminate trade barriers which limit or impede Mercosur trade, ensuring a free trade space, the sooner the better, revealed Brazilian diplomats in anticipation of the presidential summit next week, when Mauricio Macri is received by Michel Temer in Brasilia.
Negotiations for an ample trade and cooperation agreement between the European Union and Mercosur are strategic, essential and must be urgently concluded, said Ramon Jauregui, head of the Euro-chamber for Latin America delegation, following on the recent accords signed by the EU with Ecuador and Cuba.
Venezuela announced on Friday that it had transferred the Mercosur pro tempore chair to Argentina, having ended its legitimate tenure of the post, although the rest of the block's members had already complied with the formalities two weeks ago when they also decided to suspend the regime of president Nicolas Maduro.
Argentine President Mauricio Macri on Monday reshuffled his economic team removing finance minister Alfonso Prat-Gay amid a stubborn recession, soaring budget deficit, a discussion on gradualism to address inflation and public opinion deep disappointment with center-right reforms.