Argentine Minister for Industry, Debora Giorgi will meet in coming hours with Brazilian Ambassador, Enio Cordeiro, to schedule a series of meetings to address trade disputes between the two neighbouring countries and main Mercosur associates.
China moved to smooth economic relations with Brazil on Monday, saying it was open to more Brazilian exports and that Chinese firms will broaden their investments in the country.
United States reached the legal limits of its borrowing authority as a top Republican increased his party's demand for deep spending cuts as part of any increase. The remarks by Representative Paul Ryan, the top budget writer in the House of Representatives, underscored the divisions that Republicans and Democrats will have to overcome in order to raise the 14.3 trillion US dollars debt limit and avoid a default that would roil markets across the globe.
Parliamentary leaders of South Korea and Brazil agreed Monday in Seoul to put forth efforts to promote economic ties between the two nations in the framework of Mercosur, through closer interactions at the parliamentary level.
Euro zone finance ministers approved Monday a three-year, 78-billion Euro emergency loan program for Portugal and said Lisbon would ask private bondholders to maintain their exposure to its debt.
Opposition to the HydroAysén dam and power line project grew throughout Chile this past week in the wake of massive demonstrations protesting the project’s approval on Monday May 9 in southern Chile.
Brazilian Development, Industry and Foreign Trade minister Fernando Pimentel justified trade barriers imposed last week on the import of cars, a measure which was strongly criticized by the Argentine government.
China Trade Minister Chen Deming promised to further increase bilateral trade with Argentina which last year reached 13.5 billion US dollars but also asked for reciprocity regarding China’s exports.
French president Nicholas Sarkozy stressed over the weekend he would not accept an European Union-Mercosur trade agreement that could mean a loss of income for European farmers.
China will be able to avoid a financial crisis that is due to hit other developing countries over the next five to 10 years a central bank adviser was quoted as saying on Saturday.