Brazil likely to make bilateral agreements with the US rather than working with the FTAA

FreshPlaza | February 12 2007

Brazil likely to make bilateral agreements with the US rather than working with the FTAA

Uruguay will receive support from Brazil to keep it in the Mercosur

by Jahir Lombana

Tholen — The Brazilian Foreign Relations Minister, Celso Amorin, argued that Mercosur would prefer to negotiate bilaterally with the US than to try to save the Free Trade Agreement of the Americas. “I am not worry if we have to forget the FTAA or not. I think we cannot use excessive energy to save it... we need, instead, a bilateral agreement with the US, which it is not easy in a short term”. Brazil will begin negotiations with the US to trade ethanol and Uruguay signed recently a Trade and Investments Framework Agreement (TIFA).

In an effort to avoid an eventual withdrawal of Uruguay in the Mercosur, high representatives of the Brazilian government announced that the President, personally, Luíz Inacio Lula Da Silva will promote an increase on trade and investment from Brazilian companies in Uruguay. The President would announce this support in his visit the next February 26 to “enhance the bilateral relations”, as announced José Felicio, Brazilian ambassador in Uruguay. The US president is also planning a visit to the main US partners in Latin America at the middle of March (Uruguay and Colombia would be included).

source: FreshPlaza