Egypt’s Ambassador delivered the original ratification document of the Arab Republic of Egypt on the Free Trade Agreement signed with the Mercosur on 2/8/2010 to the Secretariat of the organization.
Egypt has just endorsed the Free Trade Area agreement signed with the Mercosur (Southern American Common Market) on August 2, 2010, said Deputy Spokesman for the Foreign Ministry Nazieh el-Nagari.
The European Union expects to advance cooperation and trade discussions with Mercosur late this month in Chile in the sidelines of the EU/Celac (Community of Latin American and Caribbean States), said EU ambassador in Chile, Rafael Dochao Moreno.
Mercosur membership, the path chosen by the government of leftist President Evo Morales, could open up new prospects for Bolivian business owners “especially those involved in big agribusiness in eastern Bolivia,” Tullo Vigévani, a professor at Paulista State University in Brazil, told IPS.
The European Union and Mercosur will resume talks on a free trade agreement during a coming summit in Brazil and later at a meeting in Santiago de Chile, both in January,
Venezuela’s entry into Mercosur has had interpretations centered on the economic and commercial aspects, but the most important it is a geopolitical and geoenergy matter.
When the Paraguayan Senate approved the “political judgment” against Fernando Lugo on June 22, it unleashed the biggest political crisis in the Mercosur in the last 20 years. The dust still hasn’t settled, but it’s clear that nothing will be the same since the shake-up.
There is little likelihood that South America’s Mercosur trade bloc will take up China’s proposal to establish a free trade agreement, at least in the short term. Experts and industrialists fear an invasion of cheap Chinese goods, and unequal competition.
Pakistan’s Ministry of Commerce is negotiating trading arrangements with Mercosur countries like Brazil, Argentina, Paraguay, Uruguay, Venezuela and Andean Community (CAN) a trade bloc comprising the South American countries of Bolivia, Colombia, Ecuador and Peru to increase it’s trade market access.
Joining the South American trade bloc Mercosur will be a boon for Venezuela and should help the country’s businesses boost international sales, President Hugo Chavez said Monday as he traveled to Brazil for a meeting where Venezuela will formally become a member.
Just as Friday’s convention photo showed a lame Mercosur — with Cristina Fernández de Kirchner, Dilma Rousseff and José Mujica, but without the Presidents of Paraguay (suspended) and Venezuela (convalescent) — Brazilian and Argentine political lobbyists, along with some Bolivarian middlemen are frantically working for an expanded Mercosur photo, in which four new members would be joining the club. After Venezuela’s hurried entrance into the group last week, the door is now wide open for more partners.
Chinese Premier Wen Jiabao said the Asian giant is interested in a possible free-trade deal with the Mercosur regional trade bloc.
Wen, who is due to end his Latin American tour in Chile on Tuesday after also visiting Brazil and Uruguay, asked leaders of South American trade bloc Mercosur to look into the possibility of a free-trade deal with China.
Spain’s Foreign Affairs minister Jose Garcia Margallo said that Madrid supports negotiations for a free trade agreement between Mercosur and the European Union on a “region to region” basis, back stepping from his proposal last April to exclude Argentina following the seizure of YPF from Repsol.
Brazil on Monday escalated a growing trade fight with Argentina by increasing the bureaucratic obstacles for importing about 10 perishable products including apples, raisins, and potatoes, a senior Brazilian government official told Reuters.
Argentina’s move to nationalize a 51% stake in the country’s YPF oil company from Spain’s Repsol this week may hamper efforts to finalize free-trade talks between the European Union and the Mercosur trade bloc later this year, European officials said Friday.
Argentina’s controversial new import restrictions came into effect on Wednesday as part of the legislation on the trading sector which gives the government bureaucracy more powers to control and restrict imports.
The Palestinian Authority signed a free trade agreement with the Mercosur trade group Tuesday during the organizations’ presidential summit in Uruguay.
Venezuelan President Hugo Chavez needs to wait a bit longer for his country’s entry into Mercosur, the Common Market of the South founded in 1991 by Argentina, Brazil, Paraguay, and Uruguay. Though the group feels they found a procedural move to get around the opposition of Paraguay’s legislature, the move will take additional time.
Mercosur is expected to sign a free trade agreement with Palestine on the second day of the summit following a similar deal signed with Israel in 2007.