Wednesday, April 29th 2015 - 22:48 UTC

Uruguay insists Mercosur must achieve “a free trade zone which effectively works”

“To have Mercosur members 'sincere themselves', means complying with free movement of goods, services and production factors”, said Nin Novoa

Uruguay again complained about the current stalled situation of Mercosur and called for members to 'sincere' themselves regarding the compliance of the original 1991 founding charter, and hopefully “we can at least reach the first stage of the chronogram: a free trade zone which effectively works and has not to bear the brunt of hurdles”.

Monday, April 27th 2015 - 22:48 UTC

Paraguay and Uruguay ministers to discuss recovering paralyzed Mercosur

Loizaga will be receiving Nin Novoa on Tuesday to address the current situation of Mercosur and consider options to get the group back on its tracks

Following on the lead of Uruguay's new government, Paraguay has also demanded Mercosur returns to its roots and original objective with free circulation of goods and no obstructions of any kind or impediments such as tariff barriers. The five countries group has been paralyzed and negotiations for an encompassing cooperation and trade agreement with the European Union remain stalled.

Monday, April 20th 2015 - 23:41 UTC

Uruguay insists with the EU trade accord, even leaving Mercosur aside

   “It is essential that we advance together with Brazil in trade matters to see if we can finally reach an agreement Mercosur/EU”, said President Vazquez

Uruguay's president Tabare Vazquez announced that when he meets with Brazil's Dilma Rousseff next month, they will consider as a priority how to get the Mercosur-European Union talks for a trade agreement rolling again.

Friday, April 17th 2015 - 03:39 UTC

Mercosur must exhaust efforts to advance in trade talks with EU, insists Uruguay

“Many elements such as the free circulation of goods, services and persons is not working” and there is a distortion of the Mercosur founding treaty, said Cancela

Mercosur must exhaust efforts with determination to advance in trade negotiations with the European Union, said Uruguay's Deputy foreign minister Jose Luis Cancela confirming the country's commitment with the block, but also demanding 'sincerity' in addressing the challenges and agreeing on an international insertion strategy.

Monday, April 13th 2015 - 08:17 UTC

Uruguay/Brazil meeting to attempt an advance in Mercosur/EU trade talks

Rodolfo Nin Novoa revealed to the Uruguayan congress that this week he will be meeting with his counterpart and Mauro Vieira in Brasilia

Uruguay and Brazil foreign ministers Rodolfo Nin Novoa and Mauro Vieira will be meeting this week in Brasilia in yet another attempt to push forward the stalled negotiations for a trade agreement between Mercosur and the European Union, according to the minutes of a meeting of the Uruguayan official with members of the Foreign Affairs committee.

Monday, April 13th 2015 - 07:45 UTC

Mercosur footwear manufacturers want to stop the 'flood' of Asian shoe imports

“There's no way the import figures are compatible with an annual consumption of one pair of shoes in Paraguay, given the levels of poverty”, said Ramirez (Pic ABC)

Paraguay with a population of six million imports annually 25 million pairs of shoes, something considered 'incredible' and totally out of proportion with the economic situation and poverty levels of the country, claimed Mercosur members' footwear chambers and related industries.

Friday, April 10th 2015 - 05:26 UTC

Fitch Ratings lowered Brazil's investment grade outlook to negative

“Brazil's three-year growth average of only 1.5%, compared to the 'BBB' median of 3.2%, highlights the structural nature of the under-performance,”

Fitch Ratings lowered Thursday the outlook on Brazil's investment grade BBB rating to negative, warning that government efforts to turn around the economy risked getting derailed. The Brazilian economy, the world's seventh-largest, stagnated with just 0.1% growth last year as the drag of rising inflation erased the effect of hosting the football World Cup in June and July and gearing up for the Rio Olympics next year.

Friday, April 10th 2015 - 05:24 UTC

Rousseff declares Petrobras 'clean' after purging corrupt managers and practices

”Petrobras is still standing. It has cleaned up what it had to clean up and got rid of those who took advantage of their positions to enrich themselves,'' Rousseff said

Brazil's State-run oil company Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from offshore deposits, President Dilma Rousseff said Thursday. The indictment of former senior executives of Petrobras the investigation of dozens of political allies of Rousseff in the multibillion-dollar kickback scandal has thrown her government into crisis and undermined investor confidence in Brazil.

Friday, April 10th 2015 - 03:09 UTC

“UK has no doubt about sovereignty over the Falklands and Islanders right to decide their future”

“We object strongly to recent statements by the Argentine president and the Argentine ambassador to London, and so summoned the ambassador to account for these”

The UK Foreign Office summoned Argentine Ambassador Alicia Castro to object recent remarks regarding the Falkland Islands by President Cristina Fernandez and the diplomat based in London. An FCO spokesperson said that Britain has no doubt about its sovereignty over the Falkland Islands and surrounding maritime areas, nor about the Falkland Islanders' right to decide their own future.

Friday, April 10th 2015 - 03:06 UTC

Uruguay considering extending length of oil exploration contracts

“If we find oil, there is no possible scenario in which this could be profitable and be developed” said de Santa Ana, ANCAP exploration manager

Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements and have invested around $2 billion to date.


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