
Uruguay’s sound economic and stable political environment were underlined by the country’s Deputy Minister for Public Works and Transport during a high level business forum to attract investors to Latin American which was held in the capital of South Korea, Seoul.

Current trade negotiations between the European Union and Mercosur dominated the opening speeches at of Eurolat (Europe/Latin America Parliaments) Fifth Plenary Session which is taking place in Montevideo.

The following piece by Jude Webber writing for the Financial Times explains the different approach by the two neighboring countries to the windfall earnings of the commodities boom.

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.