Argentina has decided to withdraw from negotiations on current and future trade agreements within the Southern Common Market (Mercosur), of which it is a member along with Brazil, Paraguay and Uruguay, in order to focus on its domestic policy and respond to the coronavirus crisis.
Paraguay, as the country that holds the pro tempore presidency of the bloc, announced this Friday (24.04.2020/XNUMX/XNUMX) Argentina's decision through a release issued by the Paraguayan Foreign Ministry.
«The Argentine Republic reported that it adopted this determination in response to the priorities of its internal economic policy, aggravated by the COVID-19 pandemic, and indicated that it will not be an obstacle for the other States Parties to continue with the various negotiating processes.", explained the Paraguayan Foreign Ministry in the note.
The Argentine delegation conveyed this decision to its peers during the meeting of National Coordinators of the Common Market Group on external relations, which was held this Friday by videoconference.
Maintains closed agreements
The Paraguayan Foreign Ministry has assured that Argentina's withdrawal will not affect the agreements already concluded in recent months, specifically those reached with the European Union at the end of June 2019, after almost two decades of negotiation, and with the European Free Trade Association (EFTA).
"The Argentine Republic announced its decision to stop participating in the negotiations of the trade agreements in progress and in future negotiations of the bloc, excluding from this determination those already concluded with the European Union and the European Free Trade Association (EFTA)," the statement added.
However, other negotiations, such as those with Singapore, Canada, South Korea or Lebanon, will be carried out in Argentina's absence, according to its decision.
Paraguay and the other Mercosur countries will evaluate "the most appropriate legal, institutional and operational measures" to ensure that Argentina's withdrawal from these talks does not affect community integration.
Source: Reuters
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