Business

EU – Mercosur group free trade talks.
by Milota Sidorova

In the time when euro zone leaders as well as EU politicians try to prolong the agony of the common currency, it seems the old rules and bans are just about to fail. Words from Spanish Premier Jose Luis Zapatero meant one of the first long-term business borders would either lost or lowered. Mercosur group which consists of Argentina, Brazil, Paraguay and Uruguay have formally reopened talks about free trade between Latin America states and EU.According Zapatero, breaking the ban that was established in 2004 would be a positive answer to the crisis Europe is facing. The amount of export between continental regions would assume extra five billion euro (6.2 billion dollars). E! xport from developing countries is a big and complicated issue. Most of them are really very poor and the goods, rich countries depend on are sold very cheap. These rich countries make rules that eliminate export of ready to sell products for example – chocolate or cotton clothes. They allow to sell just the basic goods – for example cocoa beans, bananas or cotton. The next proceeding is under competition of rich countries (that of course make more money on it). This way, developing world has been suffering from bans and wasn't allowed to play under equall and fair-play conditions.For now, nobody knows details of this action – what would be conditions of the trade. Even if it is speaking of free trade, it won't be as liberal as it's been proclaimed. One is sure – it would be good chance for some Latin-American businessmen to make more money in Europe and it would be potential chance for European businessmen to fullfill Latin-America with their goods.! But since Europe has been more dependent on foreign products,! it is p ossible free trade would not be balanced at all.

related story (sgx17320): http://www.france24.com/en/20100517-eu-mercosur-trade-talks-...

by Milota Sidorova for Cantell TV (http://cantell.tv)

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posted by Blog TechSource @ 4:42 PM