Paraguay expects the Mercosur summit that begins Monday in San Juan, Argentina, to approve 650 million US dollars in loans. The Paraguayan Foreign Affairs ministry also confirmed that President Fernando Lugo and chancellor Hector Lacognata will be attending the meeting.
Trade among Mercosur full members Argentina, Brazil, Paraguay, Uruguay and Venezuela in the process of incorporation is forecasted to reach 41 billion US dollars said Brazil's ambassador to Argentina Enio Cordero. This is a significant leap from the 9 billion of 2002 and 4.5 billion in 1991 when the block was established.
Egypt will be signing a free trade agreement with Mercosur during the group’s presidential summit scheduled for next August 3 in Argentina, announced Friday the Egyptian trade minister on Friday.
Brazilian President Lula da Silva and Uruguay’s Jose Mujica on Friday defended South America’s integration as a peace zone and reiterated the two countries commitment to Mercosur and Unasur.
The Indian ambassador to Argentina Rengaraj Viswanathan said his country, currently the fourth largest economy in the world, is looking to “deepen and expand” its accords with the Mercosur and highlighted that Indian businessmen “use Argentina as a platform” to access regional markets.
Venezuelan president Hugo Chavez office has confirmed he will be participating of the coming Mercosur presidential summit scheduled for next August 3 in San Juan, north of Argentina when the rotating chair of the block will be passing from Buenos Aires to Brasilia.
Latin America and the Caribbean is consolidating its recovery from the global economic slowdown, posting higher-than-expected growth in recent months. Although some countries in the region face serious pitfalls, according to a new United Nations report, Mercosur stands out as driving the revival.
The European Farmers and Agri-Cooperatives organizations, Copa-Cogeca, called on Tuesday for a “solid” Common Agriculture Policy, CAP, to protect European farmers from Mercosur (Argentina, Brazil, Paraguay and Uruguay) countries’ competition.
Brazilian Foreign Trade Secretary Welber Barral flies Monday to Dominican Republic to promote bilateral and advance towards a road map for an agreement with Mercosur.
Argentina proposed the gradual elimination of the Mercosur Common External Tariff, AEC, double charge and hopes the initiative will receive a first approval before Buenos Aires has to turn over the rotating chair of the trade group to Brazil next August.