Brazil, Argentina want to “strengthen ties” with Pacific countries

Brazil and Argentina have announced plans to “strengthen ties” with Japan, Canada, and nine other countries in the Trans-Pacific Partnership (TPP).

The announcement came Tuesday (Jan. 31) following a meeting between Marcos Pereira, Brazil's Minister of Industry, Foreign Trade and Services, and Francisco Cabrera, Minister of Production of Argentina, and days after the US President Donald Trump pulled out of the TTP.

Brazil's Foreign Trade Secretary Abrão Neto, who was at the meeting, said Brazil wants to take advantage of the “current scenario” to negotiate new agreements and become closer to other countries: “Brazil has negotiations in progress with Mexico, which are moving on to the sixth round of meetings; we also have negotiations—especially on non-tariff issues including services, procurement, and investments—with Chile, Colombia, and Peru.”

During the ministerial meeting, Brazil and Argentina also decided to prioritize the existing negotiations with the European Union (EU) and the European Free Trade Association (EFTA).

Miguel Braun, the Argentinian Ministry of Production's Trade Secretary, denied Argentina has a “more restrictive” stance on the EU talks. He said the MERCOSUR countries will make a group offer for the bloc. “We are working in close coordination with Brazil, Uruguay and Paraguay to reach an agreement that works best for all of us,” he said.

Bilateral agreement

Brazil and Argentina signed a technical cooperation agreement Tuesday to use $250,000 from the Inter-American Development Bank (IDB) to map all existing procedures and requirements in bilateral trade and make recommendations to cut red tape and streamline transactions.

Argentina is Brazil's third-largest trading partner and the second most important destination country for Brazil's manufactured exports.

On February 7, Argentinian President Mauricio Macri will make a state visit to Brazil.

Translated by Mayra Borges