
European Union beef prices would be cut by more than 8% and meat production across the EU would fall in value by more than €3bn if a trade deal were agreed with Mercosur, according to preliminary assessments from an agriculture advisory body to the European Commission.

Bilateral negotiations for a trade agreement between Mercosur and European Union delegates are scheduled to resume Tuesday in Asunción, Paraguay.

European farmers insisted Monday before the European Parliament on the “catastrophic impact” that a trade agreement with Mercosur could have for the EU agriculture.

A week before the next round of negotiations for an ambitious association and trade agreement between the European Union and Mercosur, a paper from the EU Joint Research Study centre, JRS, quantifies the alleged losses of such a deal for European farmers.

While for the Venezuelan government Mercosur has become the main priority following its recent exit from the Community of Andean Nations, CAN, the country’s private sector claims it is the worst moment possible for such a move.

Mercosur country members with support from the Inter-American Development Bank (IDB) and the World Tourism Organization will cooperate in the promotion of tourism focusing on improved and harmonized statistics, strengthening governance and promoting investment in the industry in the region.

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.