
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.

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.

French Foreign Trade Secretary Pierre Lellouche said he had witnessed ‘strong tensions’ among Mercosur members during negotiations with the European Union for a free trade agreement.

Uruguay which does not harvest transgenic rice has been consolidating as a growing European Union supplier and is a traditional provider for Mexico and Middle East countries such as Iran and Iraq.

Institutionalization of Mercosur and changing its public opinion image are the main issues Brazil’s Samuel Pinheiro Guimaraes plans to address, at his new post of Mercosur High Representative-General since February.

The existence of ‘inconveniences’ with Mercosur largest economies is delaying reaching a trade agreement with the European Union, according to Germany’s Ambassador before the government of Paraguay, Claude Robert Ellner.

Reports from the European Union and Mercosur confirm that negotiations for a trade agreement remain at ‘technical level’ and no information will be forthcoming until both sides have agreed on the lists of products to be exchanged.

With less than six months to the October election President Cristina Fernandez de Kirchner leads comfortably, with no serious opposition on site, and with a public opinion support of 56%, similar to when she first took office in December 2007.

Argentine overseas sales of soybeans and by products reached 17.3 billion US dollars in 2010, equivalent to 25.4% of total exports, according to the latest report from the country’s statistics office INDEC. In 2009 the soy complex exports represented 23.3%.

Brazil’s benchmark consumer price index in April exceeded the upper limit of the government’s target range for the first time since 2005 but officials are confident April was a peak and during May the tendency is for inflation to decelerate.