The Brazilian government has welcomed Argentina's realistic foreign exchange policy unifying the Argentine peso exchange rate, saying the latest economic measures taken by the Mauricio Macri administration will be “very positive” for the commercial relationship between the two countries.
Paraguay's foreign minister Eladio Loizaga is in Brussels holding a round of talks with different European Union officials regarding the trade and cooperation agreement with Mercosur, while in Brazil Industry and foreign trade minister Armando Monteiro announced that Mercosur was finally ready to advance with a wide range proposal.
The United Kingdom and Brazil reaffirmed on Friday their support for the success of the European Union/Mercosur Association agreement negotiations in the framework of the eighth meeting of the UK-Brazil Joint Economic and Trade Committee (JETCO) which emphasizes bilateral cooperation and initiatives.
A top Brazilian minister said that Mercosur must allow member countries to sign trade agreements with third parties and called for the end to the rule which prevents such initiative. Development, Industry and Trade minister Armando Monteiro Neto made the statement during a competitiveness seminar in Rio do Janeiro a couple of days ahead of a crucial meeting in Brussels between Mercosur representatives and the European Union to address an encompassing free trade agreement.
Uruguayan president Tabare Vazquez will be meeting his peer, Dilma Rousseff in Brasilia this Thursday to address a dense bilateral agenda, and more specifically the workings and future of Mercosur, in search for a more flexible group, open to agreements with third parties.
Brazil has proposed reviewing Mercosur rules so that its members can enjoy more 'liberty' to negotiate trade agreements with other blocks or third parties, because even when Mercosur is an indissoluble marriage, this does mean that relations can't be discussed and thus a 'different speeds' group should not be discarded.
Argentina and Brazil failed to reach an agreement to help unlock the ongoing tension between the two key Mercosur allies over bilateral trade. Argentina's Hector Timerman and his counterpart Mauro Vieira met in Buenos Aires to try and ease Brazil’s growing concerns about restrictions on the flow of goods, but any decisions were pushed forward to an undetermined date.
Brazilian President Dilma Rousseff has named business leader Armando Monteiro to head the industry and trade ministry in a new sign of more market-friendly policies as she tries to restore investor confidence and reignite economic growth.
Brazilian president Dilma Rousseff already has the names for crucial posts in her new government, but they will not be announced until next Wednesday according to reports in Sao Paulo and Rio do Janeiro newspapers based on Planalto sources. But the names were sufficient to make the Sao Paulo stock exchange surge 5% on Friday.