
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.

In spite of world turbulences the Latin America economy will expand 4.8% in 2011 and 4% in 2012 and 2013 boosted by the high price for commodities and strong domestic demand, according to the Spanish bank BBVA, on its “Latinamerica report”.

Mercosur full member Argentina this week is expected to approve the use of genetically-modified soy seeds made by German company Bayer as part of its push to increase farm production, a top Argentine official said on the weekend.

The following feature piece from Reuters written by Hillary Burke and Malena Castaldi gives an idea of Uruguay’s international standing.

Uruguayan President Jose Mujica said Monday that the developed world financial scenario is quite disappointing almost regrettable, and recovery in those countries can be expected to be “very slow and full of uncertainties”

Visiting Canadian Primer Minister Stephen Harper and Brazilian President Dilma Rousseff signed on Monday several agreements on air travel, pension benefits, international aid and other areas at the Planalto Executive palace in Brasilia.

Brazil will request at least 100 additional exceptions from Mercosur common external tariff, TEC, as part of the program to prop local industry that was announced earlier this week and includes tax relief to the tune of 16 billion dollars.

President Cristina Fernandez de Kirchner, CFK, underlined the importance of dialogue between Argentina and Uruguay which enable to overcome ‘conflicts’, while her Uruguayan peer Jose Mujica said that the “good neighbours” policy is the only way forward and a win-win situation for both sides.

South America’s top economic and monetary authorities will be meeting in Lima and later in Buenos Aires to agree on “joint and specific actions” to address the flush of global liquidity distorting regional currencies and of unsold manufactured goods threatening jobs and industry.

Argentina and Brazil reaffirmed on Friday their strategic alliance and commitment to Mercosur and regional integration during a summit in Brasilia, where President Cristina Fernández de Kirchner together with her Brazilian peer Dilma Rousseff inaugurated the new Argentine Embassy in the Brazilian capital.