After a seven-year hiatus, Japan and Mercosur — Latin America’s largest trading bloc — plan to resume talks next month to decide whether to launch formal negotiations on a major, bilateral free trade agreement (FTA), according to Paraguay’s top diplomat.
“The Mercosur states are in political agreement. Now is the time to do it and we are ready to relaunch the talks,” said Paraguay Foreign Minister Rubén Ramírez Lezcano, as the four-member group seeks new markets in Asia and Tokyo looks to diversify supplies of food and raw materials.
In an interview in Tokyo, Ramirez told The Japan Times that the bloc — which currently comprises Argentina, Brazil, Paraguay and Uruguay as full members — is keen to expand relations with Asian countries, particularly Japan, as it seeks to boost trade and deepen economic integration with partners beyond the United States, Europe and China.