
Brazil’s presidential opposition candidate Jose Serra promised substantial changes to the country’s foreign policy if elected next Sunday. He specifically mentioned Brazil’s lobbying for a seat at the UN Security Council, the functioning of Mercosur and relations with Cuba and Iran.

Members of the European Parliament expressed strong support for expanding trade with Mercosur but subject to clear red lines to ensure food security and prevent further environmental damage, said a resolution adopted on Thursday.

The potential for expanding trade and investments with Mercosur was underlined by the Federation of Indian Chambers of Commerce and Industry, Fecci, following on last month’s visit to the region by a delegation of Indian business people.

Mercosur reached a political agreement to review the composition and election of the group’s Parliament, Parlasur. Under the new system to be implemented in several years the number of seats will be increased based on proportional representation and members of Parlasur will be chosen by direct universal vote.

Argentine Foreign Affairs minister Hector Timerman thanked his Mercosur counterparts for renewing their support towards Argentina for its legitimate, constant and unlimited right to claim the Malvinas Islands' sovereignty to the United Kingdom.

Argentina and Brazil’s Foreign Affairs ministers, Hector Timerman and Celso Amorim are expected Monday in Montevideo to report to the Mercosur parliament on the current situation of the regional block and future steps.

European Union and Mercosur representatives concluded Friday in Brussels a new round of negotiations for an association and cooperation agreement for which they have proposed an ambitious work calendar extending until mid 2011, when the accord could be closed.

The European Union and the Mercosur trade bloc resumed on Monday a new round of talks in Brussels aimed at reaching free trade agreement in the near future after years of no talks. In the immediate the blocs are seeking to outline a work scheme that could be kicked off in December.

Chambers of Commerce from Europe, Brazil and Uruguay called on their governments to give a new thrust to negotiations for an ambitious cooperation and trade EU/Mercosur agreement.

World Bank's Chief Economist for Latin America and the Caribbean Augusto de la Torre said that the Latin American economy will grow between 5.5 and 6% this year spurred mostly by a good performance from Mercosur members.