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LatinNews Daily - 19 June 2018

In brief: Mercosur

Mercosur: Uruguay’s President Tabaré Vázquez has said that the Southern Common Market (Mercosur) regional trade bloc is not prepared to “waste time in eternal negotiations”, with the European Union (EU). The remarks came during the LII Mercosur heads of state summit held in Asunción, Paraguay, on 18 June in which Uruguay received the six-month Mercosur pro-tempore presidency from Paraguay. Mercosur has been negotiating a free trade agreement with the EU since 1999 but the two blocs have been unable to reach a deal despite these efforts. Mercosur and EU officials hoped that an agreement could be reached this year, but the negotiations once again appear to have stalled due to misgivings on the EU side. Consequently, Vázquez said that Mercosur could not wait on the EU indefinitely and that if a deal is not reached quickly, the bloc must seek to secure deals with other partners. “There is the Pacific Alliance, there is China, there is Russia, Japan…” Vázquez said.   

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