Mercosur signs deal to boost exports within bloc’s members

Trade bloc Mercosur has signed an investment cooperation and facilitation protocol aimed at boosting exports within its country members, the Brazilian government said. The bloc is made up of Brazil, Argentina, Uruguay and Paraguay.

According to the Brazilian government, the document used the Brazilian Investment Cooperation and Facilitation Agreement, which Brazil signed with other nine countries, as a base for the regional deal.

The Brazilian government said the regional deal is based in the concept of capital flow facilitation, risk mitigation and the prevention of controversies.

“We concluded, in the past two years, [similar] bilateral deals with four Pacific Alliance members: Mexico, Chile, Peru and Colombia. Now, with the signing of a Mercosur protocol, Brazil expands even more its legal certainty for completing investments in the region,” Brazil’s minister of Industry, Foreign Trade and Services, Marcos Pereira, said.