Brazil sees historic Mercosur, EU trade deal reached soon
The Brazilian government expects a free trade agreement between the Mersocur trading bloc – composed by Argentina, Brazil, Paraguay and Uruguay - and the EU to be reached soon.
There have been several attempts during more than 20 years to strike a deal but negotiations have always failed due to sensitive areas such as agriculture and industrial production.
Brazil's Globo TV reported economy minister Paulo Guedes saying a deal could be announced in three or four weeks.
Guedes and President Jair Bolsonaro are in Buenos Aires, on an official visit to Argentina.
“Brazil is gradually opening its economy, first increasing integration with its regional partners, then moving towards the OECD, [and] agreements with the European Union,” said Guedes.
In March, the US government declared its support for the Bolsonaro administration's bid to become a member of the OECD.
Since Bolsonaro assumed power in January, he has quickly moved on his trade agenda which is focused on greater free trade as a means of spurring economic growth.
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