The institutional dialogue between South American trade bloc Mercosur and the Eurasian Economic Union (EAEU) is ongoing and can be deepened, Brazilian Foreign Minister Mauro Vieira told Sputnik on Monday
MONTEVIDEO (Pakistan Point News / Sputnik - 17th July, 2023) The institutional dialogue between South American trade bloc Mercosur and the Eurasian Economic Union (EAEU) is ongoing and can be deepened, Brazilian Foreign Minister Mauro Vieira told Sputnik on Monday.
"The institutional dialogue, which is already taking place between the blocs, can be deepened. Mercosur's external negotiations are currently an area of priority for the bloc. There is doubtless space to assess the prospects of deepening the dialogue," the minister said in answer to a question about the prospects of a free trade agreement between Mercosur and the EAEU.
The bloc is currently focused on negotiating a free trade agreement with the European Union, the top diplomat said, adding that despite Beijing's interest in striking a similar deal with Mercosur, the bloc intends to finalize the complex negotiations with the EU before starting any new discussions on the matter.
Mercosur, also known as the Southern Common Market, is a South American trade bloc which includes Brazil, Argentina, Paraguay and Uruguay. It 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.
