Montevideo, who wanted to negotiate individual trade agreements with China, without the agreement of the other Mercosur members*, could not achieve his project. Indeed, the solidarity rule of the bloc provides that a member country may not sign afree trade agreementwithout the consent of the other three.
As a sign of dissatisfaction, Uruguay rejected a trade opening proposed by Brazil in agreement with Argentina:unilateral 10% reduction in customs duties. Announced last October, this provision covers 87% of Brazil's imports and aims to combat inflation.
At this meeting, the « Southern Common Market » he timidly indicated that he wanted to move towards the free trade agreement with the European Union (cf.EU/MERCOSUR: the free trade agreement has reached the first stage!) and expressed its intention to engage in real openness towards Asia by entering into an economic partnership with Indonesia.
In order to strengthen their customs union, the three signatories to the final declaration also provided for a revision of their common external tariff.
* Mercosur:
Member States: Argentina, Brazil, Paraguay, Uruguay, Venezuela (suspended in 2017).
Associated States: Bolivia (in accession), Colombia, Chile, Ecuador, Peru, Guyana and Suriname.
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