The Brazilian Ministry of Foreign Relations believes the Mercosur countries (Brazil, Argentina, Uruguay, and Paraguay) agree on their efforts to turn the bloc into a tool for boosting competitiveness and the integration of their economies with both global and regional markets. “The agreement with the European Union is a sign of this new moment Mercosur is going through,” a note by the ministry reads.
Brazilian President Jair Bolsonaro assumed the bloc’s pro tempore presidency during the 54th summit meeting with Mercosur heads of state, in Santa Fe, Argentina, on Wednesday (Jul 17). During the plenary session, Bolsonaro pledged to work to speed up the modernization of the group.
“Under its administration, Brazil will seek to preserve and bolster the course of action adopted during Argentina’s previous mandate when it comes to intensifying talks on international trade agreements, lowering the common external tariff and continuing to rationalize the way the bloc operates, cutting costs and red tape,” the note adds.