Arabs and Mercosur Take Step to Free Trade Zone

“Between 2003 and 2004, Brazilian exports for Arab countries increased 47%. This agreement further favors export expansion,” said Brazil’s Minister of Foreign Relations, Celso Amorim, yesterday, after signing the agreement of economic cooperation between Mercosur and the Gulf Cooperation Council, integrated by Oman, Saudi Arabia, Bahrain, Qatar, United Arab Emirates, and Kuwait.

This agreement created a committee to deepen understanding between participating groups for the establishment of a final free trade agreement.


Amorim emphasized that this is an extremely important step towards the free trade zone.


“This measure, in a certain way, is already one of the Summit’s subproduct,” said the minister referring to the Summit of South American-Arab Countries, which began yesterday, in Brasí­lia.


According to the Brazilian Chancellor, the political atmosphere following the signature of the agreement is an important symptom.


“Especially after this commitment, which will ensure political confidence for the promotion of trading,” said Amorim. “A lot of people want a similar agreement, and the Mercosur is a pioneer.”


In addition to Celso Amorim, the agreement was also signed by the Ministers of Foreign Relations of Argentina, Rafael Bielsa, of Uruguay, Reinaldo Gargao, and of Paraguay, Leila Rachid de Cowles; as well as by the Vice Prime-Minister of the Kingdom of Bahrain, who is also its Minister of Foreign Relations and the Acting President of the Gulf Cooperation Council, Mohammed Al-Khalifa; and by the Secretary General of the Gulf Cooperation Council, Rahman Al-Attiyah.


Agência Brasil

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Jobs and Interests Are Up and Inflation Down in Brazil

Diminished pressure from food and clothing prices in Brazil allowed the General Price Index ...

Amazon Countries Gather in Brazil But Can’t Reach Concrete Proposal

Gathered in Brazil, nine nations in the Amazon region have called on rich countries ...

Better Yields from US Treasury Lower Brazilian Shares

Brazil’s and Latin America’s shares fell, with Brazilian and Mexican equities pulling back from ...

Brazil’s Industry Output Grows Meager 0.1% After 4 Months of Decline

Brazilian industrial output rose 0.1% in October, interrupting four consecutive months of decreases, reports ...

Top Military Leader in Brazil Warns New Defense Minister Against Left-Wing Actions

Brazilian Augusto Heleno,  a retired general and former commander of UN forces in Haiti ...

Scotland Spells Relief for Brazil’s Scandal-Plagued Lula

Brazilian President Luiz Inácio Lula da Silva left Wednesday for Scotland where together with ...

Brazil Industry’s Confidence Index Falls Slightly

In comparison with the last month the confidence of Brazilian industrialists in Brazil's economy ...

Brazil: Harvard Professor and Central Bank Chief Leave Lula’s Administration

Brazil's presidential advisor Roberto Mangabeira Unger and the chief of the Brazilian Central Bank ...

Brazil’s Supreme Justice Wants Army in Rio to Clean Favelas for Olympics

Former president Fernando Henrique Cardoso's party, the PSDB (Party of the Brazilian Social Democracy), ...

Brazil Wants the US and NATO to Keep Their Distance from South America’s Shores

The Brazilian government says that it rejects any interference of the North Atlantic Treaty ...