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.
Industrial-activity data released this week added to worries that Brazil's economy, already in recession, is far from a strong recovery. The trade group National Confederation of Industry, CNI, said revenue for the Brazilian manufacturing sector fell 5.1% in July from a year earlier and rose 1.2% from June.
Argentina's economic situation has hit Brazil harder than its other commercial partners, as China has been making inroads into Brazilian trade with Argentina. Chinese exports to Argentina have more than tripled in the last ten years, according to a study carried out by Brazil's National Confederation of Industry, (CNI).
Brazil's National Confederation of Industries, CNI, supports a review of Mercosur rules such as the current impediment for member countries to negotiate trade agreements with third countries, and fervently backs an urgent full trade and cooperation agreement with the European Union.
Brazil on Thursday strenuously denied European Union charges it engages in protectionism and said it would show its trade programs conform to WTO rules. The EU took Brazil to the World Trade Organization Thursday, complaining it was using taxes to discriminate against imports and illegally help its exporters