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LatinNews Daily - 18 June 2018

In brief: Mercosur

Southern Cone:  Foreign minister from the Southern Common Market (Mercosur) trading bloc met in Asunción, Paraguay, and discussed plans to sign a trade deal with China. The foreign ministers' meeting comes ahead of the LII Mercosur heads of state summit due to take place in Asunción on 18 June, where Uruguay is due to receive the six-monht pro-tempore Mercosur presidency from Paraguay. Trade negotiations with the European Union (EU) have rumbled on for 20 years, and Uruguay’s foreign minister, Rodolfo Nin Novoa, has voiced concerns that the talks might be about to fold. Nin Novoa stated his commitment to finalising a deal with the EU but emphasised that Mercosur should also be open to other possibilities. Uruguay has enjoyed close diplomatic relations with China for 30 years and Nin Novoa believes that a trade deal with the Asian powerhouse is of strategic importance for Mercosur. The trade bloc also revealed plans to deepen ties with the Pacific Alliance trade bloc, which comprises Chile, Colombia, Mexico, and Peru, in a bid to boost economic integration in Latin America.

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