The Mercosur countries have officially launched negotiations for an economic partnership agreement with Japan, marking a new step in their trade diversification strategy. This initiative comes amid profound changes in global trade, as many countries seek to reduce their dependence on certain markets.
The announcement was made at the Mercosur leaders' summit in Asunción, Paraguay. Brazilian President Luiz Inácio Lula da Silva indicated that this agreement with Japan could lead to the creation of a vast free trade zone encompassing nearly 400 million people and representing a combined gross domestic product of approximately $7 trillion.
The discussions aim in particular to strengthen trade, promote investment, and develop more integrated supply chains between the two partners. They come a few weeks after the provisional entry into force of the free trade agreement between Mercosur and the European Union, concluded after twenty-five years of negotiations.
Beyond Japan, Mercosur is also pursuing trade negotiations with Canada, aiming to reach an agreement in the coming months. The South American bloc also plans to engage in discussions with China, confirming its commitment to expanding its network of economic partnerships in the face of the upheavals in international trade.
According to Mercosur leaders, this strategy should enable South American economies to strengthen their access to international markets and better withstand global trade tensions. Recent US tariff policies, in particular, have accelerated efforts by many countries to diversify their economic relationships and secure their supply chains.
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