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LatinNews Regional Monitor: Brazil & Southern Cone - 24 July 2018

In brief: Brazil

* Brazil’s national industrial confederation (CNI), a private sector lobby, has sent a letter to the foreign ministry (Itamaraty) asking the federal government to seek closer commercial ties between the Southern Common Market (Mercosur) regional trade bloc and the rival Pacific Alliance regional trade bloc. In the letter, the CNI calls for the Brazilian government to develop a bilateral trade and economic agenda between Mercosur (which Brazil is a member of along with Argentina, Paraguay, and Uruguay) and the Pacific Alliance (comprised of Colombia, Chile, Peru, and Mexico) so as to stimulate intra-bloc trade. The CNI notes that the Pacific Alliance countries are the fifth main destination of Brazilian exports but that Brazilian exports to the Pacific Alliance have been falling for the past decade due to the lack of a Mercosur-Pacific Alliance trade agreement. The CNI letter comes as Brazil’s President Michel Temer flew to Mexico to attend the first Pacific Alliance and Mercosur heads of state summit that will be held in Puerto Vallarta from 24-25 July.

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