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Mercosur intra-trade grows at double the world rate

Staff writer ▼ | September 1, 2014
Mercosur is a success, intra-trade has expanded at double the rate of world trade and the block is advancing on other fields such as social affairs and citizenship, according to Ivan Ramalho, Mercosur's High Representative.
Excellent news   Mercosur is advancing on all fields
"There has been praise and criticism for Mercosur, but we are certainly not paralyzed as the impression delivered by the media: besides the incorporation of Venezuela, Bolivia is in the process of joining and Guyana and Suriname are associate members. Yes, small economies but very much integrated to the north of South America, and in practical terms means Mercosur now extends from Patagonia to the Caribbean", emphasized Mr. Ramalho.

He added that Mercosur has trade accords with members of the Pacific Alliance (Chile, Colombia and Peru), and with Ecuador which have a 20bn dollars bilateral trade with Mercosur members.

"So contrary to belief Mercosur is clearly growing with trade among the countries that make it up close to 60bn dollars, and trade has been expanding at double the world rate, and we are possibly the fourth/fifth largest economic space, which I would define as a success", said the Mercosur representative.