South Korea and Mercosur agreed to begin formal negotiations for a trade deal in the latter half of this year to facilitate commerce and investment, the Seoul government said on Friday. South Korea signed an agreement to launch the negotiations with four Mercosur member states -- Brazil, Argentina, Paraguay and Uruguay -- during a ceremony held in Seoul. Mercosur expelled Venezuela in 2016 for failing to meet its basic standards.Add your comment!
Paraguay officially moved the country's embassy to Jerusalem on Monday, with President Horacio Cartes in Israel for the ceremony, also attended by Prime Minister Benjamin Netanyahu. Paraguay, a member of Mercosur, is now the third country to move its embassy to Jerusalem, following the United States and Guatemala. The inauguration ceremony took place at noon at the embassy’s new home in the Malkha technology park, which also houses the Guatemalan embassy.1 comment
Mercosur trade bloc looks to begin economic and trade talks with Japan as soon as November, Brazil's foreign minister said, calling trade with Asia essential to regional economic health as the U.S. embraces protectionism.Add your comment!
The European Union and Mercosur have made some progress on how to open their markets to cars, but ended free trade talks in Brussels on Friday with finger-pointing about who was holding up a deal. The EU and the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay began on-off negotiations towards a trade alliance in 1999, with a fresh impetus since 2016.
While Chilean President Sebastián Piñera started a commercial tour in Brazil last Thursday, in which he avoids Uruguay because the Free Trade Agreement (FTA) with Chile is blocked in the Uruguayan Parliament since 2016, ex-president José Mujica explained that he supports the FTA with Chile in order to look for “the best incentives to ensure commercial stability.” The bench of former president Mujica and the communist party refuse to approve the commercial agreement.
European Agriculture Commissioner Phil Hogan insisted there would be no deal with Mercosur unless negotiators are fully satisfied strong standards will apply to all produce. It comes as another round of the negotiations on Mercosur got under way in Brussels this week.
China and South Korea are seeking to establish free trade agreements with Mercosur in a strategic response to Washington's increasingly protectionist stance. The East Asian initiatives have resonated well in a region where Washington is keeping its distance. U.S. President Donald Trump has not visited a single Latin American country since taking office in January 2017, and chose not to attend the Summit of the Americas, which recently concluded in Peru.
The European Union and Mexico reached an agreement on Saturday on a new free trade deal, a coup for both parties in the face of increased protectionism from the United States under President Donald Trump. Since its plans for a trade alliance with the United States were frozen after Trump's election victory, the EU has focused instead on trying to champion open markets and seal accords with other like-minded countries.
Argentine foreign minister Jorge Faurie met on Tuesday in Paris with his French peer Jean-Yves Le Drian to address current political and economic bilateral relations, as well as the latest advances in the Mercosur/European Union negotiations.
European officials said this week that significant obstacles remain to a long-delayed trade deal between the European Union and Mercosur, even as South American officials expressed optimism a deal would be finalized soon.