Mercosur is the most isolated and protectionist block in the world, said Argentine president Mauricio Macri on Thursday during a meeting with Argentine media, in Brasilia, in the framework of the current presidential summit during which the six-month rotating chair of the group will passed from Brazil to Paraguay.
A resolution backed overwhelmingly by the United Nations has effectively called on the US to withdraw its recognition of Jerusalem as the capital of Israel. The vote in support of the resolution was 128, nine against and 35 abstentions. The South American Mercosur block, currently holding a summit in Brasilia, voted divided, while Brazil and Uruguay supported the resolution, Argentina and Paraguay abstained.
Egypt is attending the ministerial meeting of the Mercosur bloc in Brasilia to deliver a message about the importance of joining the group, Minister of Industry and Foreign Trade Tarek Kabil said in a statement.
The European Union's offer on beef in Mercosur trade negotiations has not been revised according to the EU Agriculture Commissioner Phil Hogan, who said a deal may happen in February. Speaking to journalists in Brussels on Wednesday, EU Agriculture Commissioner Phil Hogan said that the EU's offer on beef access for Mercosur countries has not been revised since December 5.
The transfer of ownership of Mercosul Line from Maersk Line to CMA CGM. (Maritime Freighting Company-General Maritime Company), was completed on Friday. Mercosul is a leading player in Brazil's domestic container shipping market, with a fleet of four container vessels and around 290 people employed.
Brazilian beef exporters expect shipments to grow 10% in 2018 after rising an estimated 9% this year despite corruption and food safety scandals that temporarily closed off major markets. Trade group Abiec on Thursday said Brazil, the world’s largest beef exporter, would likely sell 1.68 million tons of beef abroad next year, up from 1.53 million tons in 2017. Revenue is expected to rise about 11% to US$6.9 billion in 2018, after a 13% rise this year to US$6.2 billion.
Brazilian police raided the offices and homes of two members of Congress on Wednesday in the country’s latest corruption probe as the government makes a last-ditch effort to vote on an overhaul of the national pension system.
Negotiations for a trade deal between the European Union and Mercosur will extend into next year, officials from both sides said on Wednesday, after the Europeans asked for more time to analyze proposed changes.
The talks between the European Union and Mercosur will likely extend into next year after European negotiators said they needed more time to respond to improved offers, a source from Mercosur negotiators said on Tuesday.
Free-trade talks between the European Union and Mercosur still face hurdles over beef and ethanol, and an expected deal announcement this week might not happen, officials involved in negotiations admitted on Monday. Mercosur diplomats on the sidelines of the World Trade Organization ministerial meeting in Buenos Aires said EU officials had not presented improved offers on EU tariff-free imports for beef and ethanol as promised.