South American Trade Bloc Seek UK Deal

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Major South American economies including Brazil are eager to get on with UK trade deal negotiations “as soon as the new minister of external affairs takes office”. Mercosur, a trading bloc that includes Argentina and Brazil, the 9th largest economy in the world, is keen “to open right away a negotiation”, according to Brazil’s foreign minister, Jose Serra. Praising Britain’s new free-trading direction, Serra says Britain “has a more open economy and has a very important position in relation to investment in Brazil”. With the Real set to devalue later this year, Brazil’s desire to trade with Britain could even mean cheaper food, as beef exporters look set to swoop into newly deregulated agricultural import markets. So that’s the US, China, India, South America, Pakistan and South Korea who have signalled they want trade deals so far…

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