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Brazil Must Speed Foreign Trade Deals, Cabinet Minister Says

Posted November 24, 2014

Under Economic Issues, International Trade Issues

(Reuters)

Brazil must pick up the pace on negotiations over international trade deals, Presidential Chief of Staff Aloizio Mercadante said on Wednesday, pushing South American trade bloc Mercosur to make progress on long-standing talks.

“Mercosur is in negotiations with the European Union, it is in negotiations with some countries where there are conflicts, and we have to see how we can move forward,” Mercadante said at an event in Brasilia.

According to International Monetary Fund data, Brazil is the most closed major economy in the Americas, with trade accounting for only about a quarter of gross domestic product. Read more here.