Uruguay’s Foreign Minister Luis Almagro highlighted that Mercosur is the “main buyer” of Uruguayan exports and strongly defended the country's presence in the regional group, a controversial issue since much of the country's political system and most of the business community want a more dynamic, open trade block.
Mercosur and the Pacific Alliance explored this week in Chile the possibilities of a gradual, and flexible, integration but left aside all possibility of a near future agreement on tariffs.
The Pacific Alliance (PA) and the Common Market of the South (Mercosur) combined represent more than 80% of regional foreign trade as well as population, and more than 90% of GDP and direct foreign investment flows, according to a new report by the Economic Commission for Latin America and the Caribbean (ECLAC).
Mercosur and Pacific Alliance foreign affairs ministers met this weekend in Colombia for a first round of talks on integration mechanisms and the potential for specific alliances. The idea of the meeting was first launched by Chile with the purpose of a 'convergence' of interests and a possible future integration.
The Pacific Alliance and Mercosur will be holding a two-day ministerial informative meeting in Cartagena de Indias, Colombia, beginning this Friday, a first approach to a possible convergence of the two groupings, according to official releases.
Chile is ready to act as a 'bridge' between Mercosur and the Alliance of the Pacific so that Latin American can have a greater presence in the world state, said Chilean Deputy foreign minister Edgardo Riveros during a conference in Sao Paulo at the Lula da Silva think-tank.