Mercosur, the South American trade bloc (Argentina, Brazil, Paraguay and Uruguay), signed a free-trade agreement with Israel on Tuesday, its first pact with a country outside of Latin America.
The European Union is ready to resume free trade talks with the South American Common Market (Mercosur). The two blocs began negotiations in November 1999 with the aim of concluding an agreement by 2005, but progress has been slow due to disagreements over import restrictions on agricultural goods.
South Korea is seeking a free trade pact with Mercosur to pave the way for Korean firms to increase investment and exports to Brazil and the other member states, South Korea's commerce minister said Saturday.
The Commission of the Constitution and Justice (CCJ) of the Brazilian Chamber of Deputies approved the entrance of Venezuela to the Common Market of the South (MERCOSUR).
The Brazilian Lower House Constitution and Justice Committee passed on Wednesday a motion for the long awaited incorporation of Venezuela to the South American trade block, Mercosur. However Venezuelan membership still faces a full debate in the House and must convince the Brazilian Senate.
A free trade agreement with the South American trade bloc Mercosur could increase Korea's gross domestic product by up to two percent, a study by the two sides has found. The Foreign Ministry said the joint FTA study was adopted at a Korea-Mercosur policy meeting in Montevideo, Uruguay late last month.
South Korea is ready to accelerate its efforts to sign free trade agreements with Mexico and Mercosur, the country's top economic policymaker said Monday.
Above and beyond the political rhetoric in favour of South American integration, Mercosur and Venezuela have not eliminated their mutual suspicions, which are delaying Venezuela's admission to the trade bloc as the fifth full member