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It is necessary to "rediscuss" Mercosur's trade clause, says Brazil's interim president

Xinhua, June 25, 2016 Adjust font size:

Brazil's interim President Michel Temer said Friday that the Southern Common Market (Mercosur) is important for his country but it is necessary to "rediscuss" its conditions in order to expand trade links with a larger number of countries in the world.

During an interview on local Estadao radio station, Temer said that he has discussed the new foreign policy with Foreign Minister Jose Serra and that Mercosur's clauses make it difficult to reach tariff agreements with third parties.

"What Serra has said is that it is necessary to re-equate Mercosur (Argentina, Paraguay, Uruguay, Venezuela and Brazil). Mercosur is important, without a doubt. We have an agreement being negotiated with the European Union (EU), we are increasing efforts for this agreement," said Temer.

At the beginning of the week, Serra proposed "loosening" Mercosur's common external tariff so that Brazil can begin unilateral trade negotiations which is currently forbidden by the bloc's rules.

"In Mercosur, Brazil is having difficulties reaching tariff agreements because it is prisoner to the bloc's commitments. We have to re-discuss Mercosur, not to eliminate it but to give guidelines to this idea of universalizing relations," added Temer.

When questioned about the effects of the United Kingdom's decision to leave the EU on Brazil, the interim president said the government will analyze the economic impacts.

Brazil's Finance Minister Henrique Meirelles will have a meeting with British Ambassador Alex Ellis on Friday afternoon in Brazil's capital city of Brasilia.

"We believe that England (United Kingdom) decided, by referendum, and for that reason, we will not discuss a political decision. We have to verify the economic issues," said Temer.

He added that Meirelles will meet with the British representative to discuss and "wait for developments, but only after it has been consolidated."

"At the moment, we are seeing a fall in the stock exchanges but then we are going to verify what is the impact that is going to affect Brazil," said Temer. Enditem