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Asean & Global Updates
POSTED | 10:16 AM | 09-01-2015

Brazil to boost trade ties with US and region

During the next four years Brazil will work toward strengthening its commercial ties with the United States, expanding its accords with Mercosur partners as well as finalizing trade agreements with Central and South American countries such as Mexico, Peru, Colombia and Chile, according to the new Development, Industry and Foreign Trade (MDIC) Minister, Armando Monteiro Neto, who made his first speech as minister on Wednesday (7 Jan 2015).

“Governments must respond to the demands and circumstances of a given moment. We have to adjust our focus and strategy and enter other trade agreements, such as with those countries of the Pacific Basin, and enhance our partnership with the United States, which is recovering economically and will once again drive international trade,” said Monteiro.

In addition, the new minister noted that despite the economic difficulties faced by some Mercosur partners (composed of Brazil, Argentina, Uruguay, Paraguay and Venezuela), the challenge for this administration will be to consolidate the economic trading bloc, according to the Rio Times.

“Mercosur is a complex construction with asymmetries within the bloc. The challenge is to construct a customs union within the reality that each country has a different economic policy,”

Monteiro stressed that the current goal of the bloc is to resume talks for an agreement between Mercosur and the European Union. “All the countries in the bloc have already reached a common denominator to present a proposal to the European Union,” he said.

The next set of talks is scheduled for March.

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