MercoPress. South Atlantic News Agency

Brazil anticipates more trade accords following on the Mercosur/EU deal

Araujo said that the agreement EU/Mercosur signaled the start of an era of “Big Brazil” in which the country would be more open, prosperous and competitive.

Brazil’s Foreign Minister Ernesto Araujo said on Wednesday that he expects two new trade deals to be signed between the trade bloc Mercosur and other regions in the second half of 2019, hailing a new era of openness in Brazil.

Mercosur is in advanced negotiations with the European Free Trade Association (EFTA), Canada, Singapore and South Korea, said Pedro Miguel da Costa e Silva, the Foreign Ministry’s lead trade negotiator for the Americas, speaking alongside Araujo.

“I think we’re very close to concluding negotiations with EFTA. I think we can also conclude with Canada in the next months,” said Costa e Silva. “We are working hard on Singapore and advancing quickly with Korea.”

Araujo said that the agreement of the free trade deal between the EU and Mercosur last week signaled the start of an era of “Big Brazil” in which the country would be more open, prosperous and competitive.

Brazil will work toward securing more trade deals during the period when it takes up the rotating leadership of Mercosur later this month, he said.