Silence prevailed Monday in Montevideo after Uruguay's Foreign Minister Francisco Bustillo Monday welcomed his Brazilian counterpart Carlos França to discuss bilateral issues, particularly a possible 10% reduction of Common External Tariffs among Mercosur members.
The plenary of the leftist coalition Broad Front concluded on Sunday with a motion that postergates de decision over the Free Trade Agreement (FTA) with Chile, defining to leave the decision on whether or not to support the agreement, delaying the debate to a future plenary whose date is not yet defined. The decision was voted after counting an erroneous sum of the votes in the first instance in which the motion to debate the issue in the plenary had won. However, the votes of the Communist Party of Uruguay (PCU) had been put on the wrong side.
The Conservative Party’s plans for a “no deal” hard Brexit would plunge the UK into immediate recession, cost the British economy £400 billion and wipe 18% off GDP growth by 2030, a leading investment bank has warned.
Uruguayan Vice-President Danilo Astori said Mercosur must decisively address the signing of a free trade agreement with the United States, but also admits that “opportunities must be built”.
Israel and Colombia this week signed in Jerusalem a free trade treaty to increase trade and promote investments in the fields of technology. The treaty which was reached after fifteen years of intense negotiations now needs legislative approval which should be accomplished by early 2014 according to Israeli political sources.
The US-Colombia free trade agreement will enter into force next month, far earlier than expected, as a result of what the Obama administration called historic progress for Colombian worker protections and human rights.
Colombia aims to be Latin America's third largest economy after Brazil and Mexico by 2015, said the country's trade minister this week during a business conference in Madrid.
President Barack Obama signed into law the free trade agreement with Colombia Friday, marking the end of seven years of legislative effort. Obama also signed similar trade agreements with Panama and South Korea. The US Congress sent the trade bills to Obama after ratifying the agreements October 12.
In an attempt to accelerate talks on a trilateral free trade agreement (FTA) , the India-Brazil-South Africa (IBSA) summit decided to hold an annual meeting of trade ministers from the three countries beginning from March next year.
United States industry leaders have welcomed words of encouragement from Republican congressional leaders that have given new hope for implementation of proposed US free trade agreements (FTA) with Korea, Colombia and Panama.