Mercosur and Mexico signed an agreement which virtually liberates all bilateral auto industry trade and opens prospects for joint undertakings world wide. The event took place in Montevideo, administrative capital of Mercosur.
Experts from South America, US, Europe, India and China will be discussing next week in Rosario, Argentina the possibility of an Asia-Mercosur grains and oilseeds market in which soybeans will be playing the leading trade role.
A free trade agreement, (FTA), between China and Mercosur could be “something extraordinary”, said Argentine Foreign Affairs minister Hector Timerman who next Thursday begins a political and business mission in Beijing.
Argentina has rapidly displaced the US as the main supplier to Colombia of corn and in near future wheat, with volumes soaring from 99.000 tons in 2007 to over 2.2 million tons currently, points out Agrimoney.
Brazilian business and manufacturing leaders are demanding a “fiscal harmonization” of the Mercosur block since other full members are attracting a growing number of Brazilian companies to those countries lured by cheap energy and qualified labour.
Paraguay’s vote in support of Venezuela’s full integration to Mercosur seems more distant than ever as was confirmed by the country’s Senate Foreign Relations committee to Brazilian ambassador Eduardo Dos Santos.
A free trade agreement between Israel and Argentina is set to come into effect on September 9, the Israeli Industry, Trade and Labour Ministry announced this week.
Economy Minister Amado Boudou rejected the possibility that Argentina launches a brusque devaluation of its currency to make exports more competitive and insisted Argentina needs no emergency or contingency plan to face the challenge of the current crisis in the developed economies.
Unasur (Union of South American Nations) central bankers meeting on Friday to discuss global financial turbulence saw heightened risks and a moderation in the region's growth, they said in a joint statement published by Chile's central bank.
German automaker BMW said this week it would probably build its first assembly plant in Brazil after strong demand for luxury cars generated stellar earnings for the global leader.