Page Nav

HIDE

Gradient Skin

Gradient_Skin

Responsive Ad

Uruguay seeks a trade agreement with China amid opposition from its neighbours

Image: Reuters Berita 24 English -  The top diplomat for Uruguay said on Wednesday that the South American nation will pursue a free trade a...


Image: Reuters

Berita 24 English -  The top diplomat for Uruguay said on Wednesday that the South American nation will pursue a free trade agreement with China, despite opposition from some of its neighbours who prefer regional trade negotiations to agreements involving just one country.

Francisco Bustillo, the foreign minister of Uruguay, made the remarks outside Asuncion, the capital of Paraguay, at a regional diplomatic gathering that included Argentina, Brazil, Uruguay, and Paraguay in addition to the Mercosur group of nations.

Bustillo offered additional conversation while described Mercosur as an incomplete free trade area in need of an ambitious but practical agenda. "We've been upfront and we've notified all significant partners about our objective," he added.

Beijing has long desired stronger trade links with South America's developing nations, largely to acquire raw materials like cereals and oil for its own expanding economy.

Luis Lacalle Pou, the president of Uruguay, announced last week that his nation would begin official trade talks with the vast Asian economy in order to increase exports of industrialised goods, technology, and raw resources.

However, other ministers emphasised the need for collective bargaining at the Mercosur foreign ministers conference on Wednesday, which is taking place ahead of a presidential summit. These regulations mandate that member nations negotiate such agreements in unanimity.

Argentine Foreign Minister Santiago Cafiero stated that sole trade deals would be "distorted" and "far more expensive for our national and regional capacity."

Carlos Alberto Franca, the foreign minister of Brazil, said it was important to be adaptable while keeping "fundamental parts of our unity."

According to Foreign Minister Julio Cesar Arriola, Paraguay would like to see adherence to "the letter and spirit" of Mercosur principles on decision-making consensus. Paraguay does not have diplomatic relations with China as a result of its diplomatic connections with Taiwan.

Reponsive Ads