Brazil plans to make new trade agreements

The Brazilian Foreign Affairs minister, Ernesto Araújo, said last Tuesday (02/07) that he expects two new trade agreements to be signed between Mercosur and other regions as early as the second half of 2019.

According to the Ministry of Foreign Affairs, Mercosur is in advanced negotiations with the European Free Trade Association (EFTA), with Canada, Singapore, and South Korea.

“I think we are very close to completing negotiations with EFTA. I think we can also finalize with Canada in the coming months,” said Pedro Miguel da Costa e Silva, the main trade negotiator of the Ministry of Foreign Affairs.” We are working hard on the negotiations with Singapore and moving quickly with Korea.”

Araújo believes that the agreement of the free trade agreement between the European Union and Mercosur finalized last week signaled the beginning of an era of “Big Brazil”, in which the country would be more open, prosperous, and competitive.

Also according to the Minister, Brazil will work to secure more trade agreements during the period in which it will assume the rotating leadership of Mercosur at the end of July.

Source: Reuters

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