The Eu and Mercosur: Is the Door Closing On Eu Trade Opportunities in Latin America?
Washington Report on the Hemisphere › August 19, 2009
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Summary
With U.S. foreign policy heavily focused on Iraq, and with the WTO Doha Round talks all but paralyzed, the European Union (EU) seems to be disregarding the wide open door to further regional integration and economic influence in Latin America that could be achieved through a free trade arrangement with Mercosur. For President Bush, trade efforts in Latin America are currently limited to bilateral negotiations with smaller Latin American markets, such as Guatemala and Mercosur's Uruguay where the U.S.\n The former prime minister of Portugal, Antonio Guterres, also emphasized the geo-strategic significance of a trade agreement: Considering this strategic role, we must look to negotiate with an open spirit, in good faith, to achieve agreements with the countries of Mercosur (...)
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The Eu and Mercosur: Is the Door Closing On Eu Trade Opportunities in Latin America?
With U.S. foreign policy heavily focused on Iraq, and with the WTO Doha Round talks all but paralyzed, the European Union (EU) seems to be disregarding the wide open door to further regional integration and economic influence in Latin America that could be achieved through a free trade arrangement with Mercosur.
Economists argue that the factors of production and both regions' natural endowments meet textbook standards for mutually beneficial trade. The Mercosur economies (Argentina, Brazil, Venezuela, Uruguay, Paraguay) hold a comparative advantage in producing agricultural goods due to their favorable climate and the abundance of arable land and relatively low-skilled available labor. The European Union, on the other hand, holds...See the full content of this document
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