The Brazilian aquaculture association Peixe BR criticized the temporary suspension of fish and shellfish exports to the European Union (EU) self-imposed by the Brazilian government. The entity which represents more than half of the Brazilian production of farmed fish argued that without doubt, this is bad news, but it can't be said that it is unexpected or that it has been a surprise for the Brazilian authorities.
The European Union and Chile have started negotiations in Brussels for the renewal of the Association Agreement. The first round was held in November and the Commission subsequently launched a consultation aimed at the sectors affected in order to find out their opinions on the issue. This process is planned to conclude on 19 February.
Latin America's GDP growth is projected to increase to 2.2% in 2018 from 1.3% in 2017. The Pink Tide has receded for the moment, giving rise to more centre right governments in the region. In 2018, Brazil, Mexico, Colombia, Costa Rica, Paraguay and Venezuela will have presidential elections. Venezuela’s political and economic tragedy could get worse.
Brazil said it was suspending fish exports to the European Union in response to concerns raised by Brussels' veterinary inspectors. The move was aimed at preventing the EU itself from ordering a suspension, said Luis Rangel, the secretary of state in charge of fisheries.
In spite of its love for horses, Argentina is the world’s leading exporter of horse meat having shipped 23.880 tons in 2010, valued 75 million US dollars according to the country’s Animal health and Agro-food quality service, SENASA.
Inflation risks are building in all Latin American countries except Mexico, where price gains are low and economic expansion should outpace Brazil this year, according to the the International Monetary Fund World Economic Outlook.
“Argentina is not a great trade partner for the European Union in absolute terms, but the EU is a crucial partner for Argentina”, pointed out the head of the EU delegation in Buenos Aires Alfonso Diez Torres.
Brazil’s trade surplus fell more than economists expected in January from a month earlier as exports declined at a faster pace than imports. The surplus narrowed to 424 million USD last month from 5.37 billion in December, said the Trade Ministry.
Following the 30% expansion in 2010, Brazilian exports are forecasted to grow 12%, in 2011 according to Foreign Trade Secretary Weber Barral. He added that in 2010 the recovery was quite strong compared to the downturn of 2009, but in 2011 global trade growth rate is expected to slow down.
A leading Uruguayan economist warned Wednesday about the risks of being highly dependent on Brazil for foreign trade, particularly since the Uruguayan economy could “be trapped in a competitive edge island”.