Within the framework of the LVIII Meeting of the Council of the Common Market of the South - MERCOSUR -, the Vice President of the Republic of Brazil, Geraldo Alckmin, noted that the interim Brazilian presidency concludes with “substantial progress” for the development of the region.
Agreement with Singapore
At this forum, which began on Wednesday (06.12.2023) in Rio de Janeiro, the Vice President of Brazil told the representatives of MERCOSUR (foreign ministers, economic ministers and presidents of central banks of the Member States and Associated States) that the Free Trade Agreement with Singapore, whose signing is scheduled for tomorrow (07.12.2023), will be the greatest source of diversification of exports and investments in the decade.
“This will be the first free trade agreement of MERCOSUR in more than 10 years and the first with an Asian country. This integration strengthens the economic ties between Brazil, MERCOSUR and the Asian region, creating opportunities for greater diversification of exports and investments,” he said.
During his speech, Alckmin also said that the agreement will bring South American countries closer to the world's largest economies.
“The Free Trade Agreement with Singapore involves not only goods, but also favours investments, flows of technology, services, movement of people and legal security. It is a gateway to Asia and ASEAN.”
Agreement with the European Union
Regarding the Free Trade Agreement with the European Union, Alckmin said that Mercosur continues to engage in dialogue in search of a balance.
“I would also like to highlight the significant progress in the negotiations between MERCOSUR and the European Union. I would like to underline the commitments of both parties towards a balanced understanding in the near future and based on the solid foundations that we have built in recent months of intense engagement,” said the Vice President.
Bolivia joins MERCOSUR
Alckmin also spoke about Bolivia's entry into the economic bloc. Membership will allow for greater regional integration and opportunities for regional development, he said.
Additionally, contacts with other blocs such as the Pacific Alliance and regions such as Central America and the Caribbean were intensified; the completion of another round of negotiations on commitments in the area of trade in services.
The Pro Tempore Presidency of Brazil 2023 will end tomorrow when the neighboring country will hand over the presidency to Paraguay at the Summit of Heads of State of MERCOSUR and Associated Countries.
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