ISDS Case Map
Mercosur
A free trade agreement between Israel and Mercosur took another step towards realization recently with the closure of a second round of talks.
After meeting with President George W. Bush, Uruguay President Tabaré Vazquez appeared on Voice of America (VOA) to say that the two presidents had “made profound advances toward a better understanding between our two countries that will permit us to improve our commercial exchanges.”
The European Commission's objective is to ''establish an enhanced partnership through a network of association agreements (including free trade agreements) involving all the countries of the [Latin America and Caribbean] region and liable to contribute to the integration of the region as a whole.''
Uruguay is looking to increase trade with the US amid mounting disappointment about the benefits of membership of the Mercosur trade bloc.
The European Union Trade Commissar Peter Mandelson said he was disappointed with the EU and Mercosur's incapacity to reach a free trade agreement but nevertheless extended an invitation for another round of talks.
The new political climate is favourable to projects for regional integration other than the US-led free trade area of the Americas, the most radical being the mutually helpful Bolivarian Alternative.
Israel has initiated negotiations for a free-trade agreement with Mercosur. Ministry of Industry, Trade and Labor director general Raanan Dinur said, “This is one of the most important steps Israel has taken in foreign trade in recent years.”
Mercosur is becoming more of a political body than a free-trade advocacy group.
The United States is seeking a free trade agreement with the Common Market of the South (Mercosur), Latin America's largest trading bloc, according to a top US diplomat.
Bolivian President Evo Morales used his inaugural address Sunday to renew his pledge to nationalize the country's vast natural gas reserves, but said he's open to the idea of a large US-sponsored trade zone he harshly criticized last year during his campaign.
