Argentina announced the suspension of talks on current and future trade agreements within the framework of Mercosur club of Latin American economies due to the coronavirus pandemic, the Paraguayan Foreign Ministry said on Saturday
BUENOS AIRES (Pakistan Point News / Sputnik - 25th April, 2020) Argentina announced the suspension of talks on current and future trade agreements within the framework of Mercosur club of Latin American economies due to the coronavirus pandemic, the Paraguayan Foreign Ministry said on Saturday.
"Argentina has refused to participate in negotiations on trade agreements, current and future, with the exception of those that have already been concluded with the EU and the European Free Trade Association," the statement read.
Argentina explains its decision by the need to focus on the priorities in its domestic economic policy, which was deeply affected by the pandemic.
"Paraguay and other Mercosur countries will analyze legal, state measures in connection with Argentina's decision so as not to disrupt the process of trade negotiations," the Paraguayan Foreign Ministry added.
Mercosur was established in 1991 to encompass Argentina, Brazil, Paraguay and Uruguay into a common market. Venezuela's full membership was suspended in December 2016.
