Punta del Este – Brazil, which is a player in the BRICS world power league, complicates the situation of Mercosur’s other members who would like to expand their business with Asia, told the former Chilean President Eduardo Frei, special ambassador of his country to Asia Pacific to Russian news agency Sputnik
The former Chilean president referred to Argentina and Uruguay, which recently signed free trade agreements (FTA) with Chile, and to Paraguay, “which has also expressed its willingness to sign.”
But, Frei continued, “the truth is that if you talk to the authorities of all these countries, everyone says that Mercosur does not work, in reality it does not work at all.”
The FTA between Uruguay and Chile, pending ratification in the legislative powers of the two countries, was negotiated in four rounds for eight months and signed in October last year. It is a “last generation” pact Frei commented.
Its chapters include cross-border trade in services, electronic commerce, issues of gender equity, rules of origin, sanitary and phytosanitary measures, technical barriers to trade, labor and environmental standards, intellectual property and trade in goods.