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Brazil wants to settle Mercosur-Lebanon agreement in 2022

MENAFN | 17 August 2021

Brazil wants to settle Mercosur-Lebanon agreement in 2022

Brazil-Arab News Agency (ANBA)

São Paulo – The Brazilian government expects the free trade agreement between Mercosur and Lebanon to be concluded next year. The information was provided to ANBA by the Brazilian Ministry of Foreign Affairs. Since July, Brazil holds the bloc’s pro-tempore presidency, which rotates among its members. Pictured above, a view of the Port of Saida in Lebanon.

Lebanon and Mercosur are negotiating a trade agreement. The Ministry informed the negotiations were affected by the COVID-19 pandemic but resumed in December last year. Brazil is the country coordinating the negotiations between the South American bloc and the Arab nation.“The expectation is for the agreement to be concluded in 2022,” informed the Brazilian Ministry of Foreign Affairs.

According to the Ministry, as coordinator of the negotiations and president of the Mercosur pro-tempore, Brazil intends to organize a new virtual round of talks with Lebanon this semester.“If the Lebanese side has availability,” stated the Ministry.

Lebanon is enduring a severe economic crisis, and initiatives aimed at international trade can help the country. Lebanon and Brazil have trade relations, but the revenues are low. Brazil imported just USD 1 million in Lebanese products from January to July, mainly copper waste and residues, fruits, sesame oil, olive oil, plastic products, and wine. Brazil exported USD 76 million to Lebanon, primarily coffee, sugar, and animal protein.

 source: MENAFN