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.
Irish MEP and vice-president of the European Parliament Mairead McGuinness is representing the European Parliament at the ministerial assembly on the World Trade Organization (WTO) in Argentina, which began on Sunday, and has warned that rushing towards a Mercosur/European Union deal would jeopardize the EU beef industry.
The European Union’s farm chief pressed Mercosur countries to offer market access for EU wines, spirits, olive oil and dairy goods to help seal a free-trade agreement that has been in the works for two decades.
Auto sales in Brazil are likely to beat prior forecasts and accelerate next year, national automakers association Anfavea said on Wednesday, underscoring the gathering strength of a recovery in Latin America’s largest economy.
Brazil’s economic recovery gained traction in the third quarter, supported by steady family consumption and a rebound in investment. GDP expanded 0.1% from the second quarter and 1.4% from the previous year, the national statistics agency said.
Mercosur is confident a framework agreement with the European Union will be announced next week despite resistance from farmers in Europe to permit tariff-free beef imports, a Mercosur official said. “There is more than a 70% chance of reaching a deal,” said the official close to the negotiations that have dragged on for almost two decades.
Brazil’s lower house Speaker Rodrigo Maia said on Monday he will try to pass a fiscally crucial pension reform bill this year in the chamber, but he told reporters he would only put the measure to the vote if it has enough support.
Brussels will seek to drive forward negotiations on a far-reaching trade deal with Mercosur this week despite warnings from France and other EU members that they are reaching the limit of the concessions they can tolerate on beef and other sensitive agricultural products, according to a report from the Financial Times.
Buenos Aires generates over a half of Argentina´s Travel & Tourism GDP, revealed a new report by the World Travel & Tourism Council (WTTC), Latin America City Travel & Tourism Impact. Latin America City Travel & Tourism Impact is one of a series of reports by WTTC which looks at the contribution of Travel & Tourism to city economies and job creation. The study covers 65 cities, six of which are in Latin America.
Shares of Brazil’s Petrobras plunged 7.8% on Tuesday a day after the state-controlled oil company reported disappointing third-quarter earnings. The company also announced that during October oil production remained stable but gas was down 1.5%