BUENOS AIRES (Pakistan Point News / Sputnik - 05th July, 2023) Leaders of the South American regional trade bloc Mercosur have failed to adopt a joint declaration at the end of their latest summit, as the document was not signed by Uruguayan President Luis Lacalle Pou.
The top-level summit of Mercosur, which unites Argentina, Uruguay, Paraguay and Brazil, was held from July 3-4 in the Argentine city of Puerto Iguazu. All countries except for Uruguay signed the final document on Tuesday.
"The presidents agreed to work to strengthen the internal cohesion of the bloc, where there are still various difficulties for trade and integration, to deepen its international commercial integration ... to turn Mercosur into a powerful productive platform that provides decent employment," the joint declaration, published by the Argentine Foreign Ministry, said.
Meanwhile, the Uruguayan Foreign Ministry issued a separate statement after the summit on the need to modernize the bloc and create mechanisms to meet the challenges of a changing world scenario.
Uruguay has repeatedly criticized Mercosur's limitations and slow pace of development. Last November, Argentina, Brazil and Paraguay warned Uruguay of the possibility of imposing safeguard measures in connection with the country's application to join the Trans-Pacific Partnership. In addition, Mercosur members were unhappy with Uruguay's attempt to weaken the bloc's requirements in order to unilaterally negotiate free trade agreements with other countries, including China.
The Uruguayan president said the country was ready to continue working in Mercosur, but did not want to stay put, and "those who sit still would be left behind."
As a full-fledged association, Mercosur was created in 1991, when a treaty establishing a customs union and a common market was signed in the Paraguayan capital of Asuncion. Mercosur unites 250 million people and more than 75% of the continent's total GDP.
