
Toyota executives in Brazil and Argentina announced they are cutting production at two assembly plants for three days because they don’t have enough parts from Japan due to the recent earthquake and tsunami.

The pro-business block initiative that will be signed this week by Pacific countries leaders from Chile, Peru, Mexico and Colombia presents no potential conflict for Brazil or Mercosur said on Monday the Brazilian Foreign Affairs ministry.

India is working on “upgrading” the tariffs agreement with Mercosur, which could translate in more items of trade being included in the Preferential Trade Agreement (PTA) or move to free trade agreement with the LATAM countries.

Venezuela formally exited the Andean Community of Nations, CAN, Friday when it stopped belonging to the free trade zone which for 38 years eliminated a full range of tariffs among its members (Peru, Ecuador, Bolivia and Colombia), announced the Venezuelan Foreign Affairs ministry.

South American countries, particularly Mercosur members remain as top priority of Brazil’s foreign policy confirmed this week President Dilma Rousseff.

Argentina's footwear industry hopes to make 200 million pairs and export 50 million shoes as part of new strategic growth plan by 2020, according to officials at leading trade federation Camara de la Industria del Calzado (CIC).

Mercosur will consider next June adopting a regional joint program to combat the mosquito transmitted dengue disease, which has become endemic in the group with the exception of Uruguay, and which has forced landlocked Paraguay to declare a national emergency.

The European Commission will be presenting in the next weeks a report on the consequences for the European agriculture of a trade agreement with Mercosur, announced EU Agriculture Commissioner Dacian Ciolos following a Thursday meeting of the Agriculture Council in Luxembourg.

President Jose Mujica promised there will be no ‘uncontrolled inflation in Uruguay’ and although admitting it’s not a simple problem, with no magic solution, there are “sufficient tools’ to address the issue including putting “government spending on a diet”.

Several Mercosur negotiations with other blocks have failed because “they ask too much and offer too little” said Samuel Pinheiro recently appointed Mercosur High Representative and who is holding a round of meetings with member countries’ leaders.