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Mercosur and Pacific Alliance meet in Buenos Aires seeking union

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Foreign Minister Aloysio Nunes Ferreira travelled (Thursday, April 6)  to Buenos Aires where on Friday he will participate, along with Minister of Industry, Foreign Trade and Services, Marcos Pereira, of a ministerial meeting between Mercosur (Brazil, Argentina, Uruguay, Paraguay) and theo Pacific Alliance  countries (Chile, Colombia, Peru and Mexico).

At  Friday’s meeting  the ministers of the eight countries will seek to push for closer ties between the two blocs, (an effort that began in 2014), with an emphasis on expanding trade and reciprocal investments. There’ll be discussions on the formation of regional value chains, trade facilitation, customs cooperation, trade promotion and support for small and medium-sized enterprises, among other topics.

Together, Mercosur and the Pacific Alliance represent 80% of the population of Latin America and the Caribbean, accounting for more than 90% of GDP and foreign direct investment flows in the region. It is a market of almost 470 million people.

The controversial Venezuela case may eventually be mentioned, but it is no expected that it will come to dominate the agenda”.