The president of the European Parliament Martin Schulz said in Buenos Aires that if finally a trade and cooperation agreement is reached between the European Union and Mercosur the United Kingdom will not benefit as a consequence of Brexit.
Paraguay's foreign minister Eladio Loizaga anticipated that the Mercosur coordinators meeting scheduled to take place this Tuesday in Montevideo, will be definitive since a proposal to solve the current acephaly of the block's presidency which was self proclaimed by Venezuela and questioned by other members, will emerge.
Argentina considers that Uruguay created a vacuum in Mercosur when it unilaterally adopted the decision to devolve the block's presidency, and creating an unprecedented situation. Since then Mercosur has been involved in a serious controversy over the transfer of the presidency to Venezuela, which has strongly discredited the South American block.
Uruguay back stepped on its statements referred to Brazil's “bullying with the Mercosur presidency” and admits there was a misunderstanding regarding Brazil's invitation for a joint trade promotion in third countries, according to an official clarification Wednesday release from the Uruguayan foreign ministry.
Latin America needs greater economic integration and a merger of Mercosur and the Pacific Alliance should be the objective, according to Argentine president Mauricio Macri, who insists in loosening trade restrictions in his country and the region.
The Brazilian government said it was deeply disappointed and surprised at statements from Uruguay's foreign minister, which are not compatible with the excelence of relations between Brazil and Uruguay, according to an official release from Itamaraty, Brazil's foreign ministry, regarding the controversy over the Mercosur presidency.
Uruguay ambassador summoned to Itamaraty after minister accuses Brazil of bullying Mercosur presidency
Brazil summoned Uruguay's ambassador on Tuesday after the neighboring country's foreign minister Rodolfo Nin Novoa accused Brazil of trying to buy its vote to block Venezuela from taking the rotating presidency of the Mercosur trade bloc.
Uruguay's Foreign Minister Rodolfo Nin Novoa said on Monday that he was opposed to the proposal that the Mercosur presidency should be held collectively, as a number of countries are opposed to Venezuela taking over the role. The proposal has been sponsored by Paraguay and Brazil for several weeks, particularly Brazil's Foreign Minister Jose Serra.
The coordinators of Mercosur founding members will decide next 23 August at a meeting in Montevideo on the legal measures to be applied on Venezuela, which self proclaimed itself the presidency of the group and is also questioned for not complying with the rules and regulations to be incorporated to the group. In that case Venezuela could lose its full member status.
India has begun the process of expanding its preferential trade agreement with the Mercosur trade bloc, opening its market more to South America and negotiations are expected to start in a month or two. The number of products on which tariff concessions is given is likely to increase to more than 3,000 from 450 at present with more agricultural products getting covered in the pact.