South American trading bloc MERCOSUR fails to reach consensus and internal differences deepen



The Rio Times Staff | The Rio Times

Foreign and economy ministers of MERCOSUR member countries failed on Wednesday (7) to reach a consensus on key trade policy issues of the bloc comprising Argentina, Brazil, Paraguay, and Uruguay, deepening the differences between the partners on the direction of the regional integration process.

In the run-up to the bloc’s semi-annual summit, the Common Market Council (CMC) meeting held online on Wednesday was disrupted when Uruguay announced to its members that it would begin to negotiate trade agreements with third countries outside the bloc.

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