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LatinNews Regional Monitor: Brazil & Southern Cone - 25 January 2018

In brief: Uruguay

Uruguay: Uruguay’s foreign minister, Rodolfo Nin Novoa, has said that his country will seek to negotiate a free trade agreement (FTA) between the Southern Common Market (Mercosur) regional trade bloc and China when Uruguay assumes the pro-tempore presidency of Mercosur in June. Uruguay has been trying to establish a bilateral FTA with China for years, but these efforts have been hampered by Mercosur’s internal rules, which stipulate that any such deals must be approved by all member nations in order to be implemented. Mercosur members Brazil and Argentina have long been opposed to a Uruguay-China FTA on the grounds that this would lead to increased competition from China in their domestic markets. However, after hosting his visiting Chinese counterpart, Wang Yi, in Montevideo yesterday, Nin Novoa said that the Uruguay and China had now agreed to pursue a Mercosur-China FTA and that Uruguay will try to convince its Mercosur partners to support the plan.

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