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MERCOSUR broading relations, trade

Brasilia, Dec 7 (Prensa Latina) Brazilian Vice President Geraldo Alckmin has affirmed that the entry of Bolivia as member of the Southern Common Market, MERCOSUR, and the agreement of the bloc with Singapore will boost investments and regional trade.

Alckmin, who is also Minister of Development, Industry, Trade and Services highlighted, on the meeting of the Common Market Council that partners are essential for Brazil’s neo-industrialization project.

Such integration strengthens economic ties among Brazil, MERCOSUR and Asia, creating opportunities for greater diversification of exports and investments, Alckmin pointed out.

He further said: “MERCOSUR is growing and asserting itself on the international arena. The Brazilian Congress has just approved Bolivia’s entry into the bloc, which will allow more trade, more investment and more joint development.”

The minister assessed that Bolivia’s inclusion creates an even further significant space for regional integration and possibilities for shared development.

Meanwhile, the signing of the free trade deal with Singapore is scheduled for Thursday at the MERCOSUR Leaders’ Summit. This is the first of its kind for the bloc in over 10 years and the first with an Asian country.

The deal involves goods, and favors investments, technology flows, services, movement of people and legal security. Alckmin noted that the agreement is the gateway for MERCOSUR members to Asia and to the Association of Southeast Asian Nations -ASEAN.

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