Brazil wants to hand Mercosur chair next week with a raft of milestones
Regulation & Compliances
Published Dec 2, 2023
Brazil is finalizing important milestones for the Mercosur trade block, including discussions with the UAE, closing a deal with Singapore, and making Bolivia's incorporation official. Brazil is also working towards signing a definitive agreement with the European Union, and negotiations have been progressing. However, environmental issues, specifically compliance with the European anti-deforestation law, are still being discussed.
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The signing of the agreement with Singapore is already on the summit agenda, a great advance since it is the first reached with a Southeast Asian country, allowing for the expansion of trade and investment with a hub that is center piece of the most dynamic economic area of the globe. As to Bolivia's incorporation as full member of Mercosur, formalities are in the process of completion: the Brazilian senate approved the treaty earlier this week, and it has all been arranged for the Bolivian parliament to make the official approval during the regional summit next week in Rio. Bolivia will thus become the sixth member of Mercosur, together with Argentina, Brazil, Paraguay, Uruguay and Venezuela currently suspended for its repeated disruption of the democratic institutions and order. But as Valor Economico points out, the trade and cooperation agreement with the European Union after more than two decades pending, has been recently beginning to move under Brazilian impulse and ...