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Gesture of relaxation in Mercosur: Argentina accepted a proposal from Brazil and agreed to a 10% reduction in the Common External Tariff

Foreign Minister Santiago Cafiero and his Brazilian counterpart, Carlos França, announced this Friday that the “Necessary consensuses” for the revision of the Common External Tariff that governs the Mercosur, after a meeting held at the Itamaraty Palace, where the bilateral agenda was also reviewed, according to a joint statement released by the foreign ministries of both countries. Tension between the bloc’s partners had grown strongly in recent days.

“We have been able to contemplate the productive interests of each of the countries,” said Cafiero, on his first international tour as foreign minister, after meeting with his Brazilian counterpart, within the framework of the agreement to reduce 10% of the common external tariff in part of the products imported from Mercosur and to which Paraguay and Uruguay must decide to join.

“The Ministers achieved the Consensus necessary to define jointly with the other Mercosur partners the scope and characteristics of the review of the Common External Tariff. They highlighted that it is an important step towards increasing the competitiveness of States Parties and towards the strengthening of regional production processes, which promote a beneficial insertion of Mercosur production in global value chains, ”says the joint statement from the Argentine and Brazilian Foreign Ministries.

“In this sense, they agreed work with Paraguay and Uruguay for the prompt approval of a Decision of the Common Market Council that allows the aliquots of most of the tariff universe to be reduced by 10%, safeguarding the exceptions that already exist within the block, “the text adds.

Finally, the statement indicates that the agreement reached “contemplates the different needs of the member countries, demonstrating Mercosur’s ability to move forward with a constructive vocation towards updating and adaptation of its tariff structure to current regional and world trade conditions in a balanced way ”.

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