Mercosur Eyes Japan Trade Deal as China Talks Loom

The South American trade bloc Mercosur plans to begin negotiations with Japan on an economic partnership agreement. Brazilian President Luiz Inácio Lula da Silva made the announcement during the Mercosur summit in Paraguay, which concludes on Tuesday.

The negotiations will follow up on preliminary discussions between the two sides, which were already mentioned in May. Lula also stated that Mercosur intends to open negotiations with China in the near future.

Both initiatives are part of the bloc’s broader strategy to expand trade relations with major global economies and strengthen access to foreign markets.

Mercosur comprises Brazil, Argentina, Paraguay, Uruguay, and Bolivia and has long sought to conclude new trade agreements with partners outside the region.

(Reuters, mja)