Brazil’s president Jair Bolsonaro and Argentina’s president Mauricio Macri said they agreed to continue integrating their economies (number one and two in South America), as strategic partners, by “perfecting” the Mercosur trade block and pressing ahead with negotiations that are already underway, such as the ongoing free trade and cooperation agreement with the European Union.
Brazil’s outgoing Agriculture Minister Blairo Maggi said that Mercosur is ready to close a trade agreement with the European Union but it is being held up because the Europeans do not want to close a deal.
Mercosur and the European Union will be holding a round of technical talks this week in Montevideo, starting on Monday, with the purpose of building a strong consensus that could anticipate an agreement sometime next year.
Brazil's president-elect Jair Bolsonaro said “prudence” was necessary before signing any trade agreement with other nations, in reference to the ongoing negotiations between Mercosur and the European Union.
Argentine Production and Labour Minister Dante Sica Monday said in Madrid he was confident the European Union and the South American Mercosur trade bloc would reach an agreement as soon as possible, hopefully by the G-20 Summit in Buenos Aires in late November.
Brazil's Foreign Minister Aloysio Nunes said he expects more movement from the European Union as long running talks on a free trade deal with his South American bloc Mercosur head into the home stretch.
Negotiators of a free trade deal between the European Union and Mercosur want to wrap up by September, but differences over beef, sugar and the auto industry could dash those hopes, Brazilian foreign minister Aloysio Nunes said. Issues over intellectual property, rules of origin and marine shipping services also need to be nailed down, Nunes said in an interview.
The UK Government position is unchanged: only the Falkland Islanders have the right to determine their own political and economic future, stated Phillip Hammond in Buenos Aires where he attended a two-day G20 ministers meeting.
A free trade agreement between the European Union and Mercosur is close to being concluded, with a final push over the line seen by early September, Argentina’s foreign minister said on Thursday. Negotiations between the EU and the Mercosur group of Argentina, Brazil, Paraguay and Uruguay, the world’s fourth largest trading bloc, have been going on for almost 20 years.
European companies are urging the European Union to accelerate trade negotiations with Mercosur bloc, in a sign of concern that the 20-year talks could once again fall dormant if they do not reach an accord this week.