Mercosur foreign ministers announced on Thursday (16.12.2021) the launch of negotiations with Indonesia to reach a trade agreement and the signing of a memorandum to strengthen relations between the bloc and the Dominican Republic, within the framework of the 59th Ordinary Meeting of the Common Market Council which was developed virtually.
In a statement from the San Martín Palace, it was noted that in the case of the relationship with the Dominican Republic, "the Memorandum aims to strengthen economic relations, promote trade and the establishment of productive investments in the territory of the parties."
To this end, it was agreed that the Working Group would develop an action plan to implement various mechanisms and initiatives.
The Argentine Foreign Ministry stressed that "for Mercosur in general and for Argentina in particular, the relationship with the Dominican Republic is of paramount importance."
The signed document, which was actively promoted by Argentina, represents a first step towards negotiating a broader trade and cooperation agreement in the future.
«The conclusion of this instrument also reinforces Mercosur's vocation to actively engage with the Central American region., as this is a priority for balanced trade, with the possibility of expanding and diversifying it towards trade in high value-added industrial goods," he said.
In the case of the agreement with Indonesia, it is highlighted that "for Mercosur in general, and for Argentina in particular, Indonesia is a relevant partner, with more than 250 million inhabitants, with a GDP of 1.058 billion dollars, and with bilateral trade with our country exceeding 1.500 billion dollars and with all of Mercosur of almost 5.000 billion dollars."
The San Martín Palace emphasizes that "Mercosur and Indonesia hope to achieve a balanced agreement with mutual benefits which means not only an increase and diversification of bilateral trade but also grants a special relevance to trade in services and mutual investment flows, becoming a tool that promotes a path of sustained economic development for both parties and their peoples, through the expansion of reciprocal trade ties."
Source: Telam
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