Argentine President Alberto Fernández transferred the rotating presidency of regional trade bloc Mercosur to Brazi’s Luiz Inácio “Lula” Da Silva at a summit in Puerto Iguazú, Misiones province. While negotiations for an agreement with the European Union are being negotiated, the South American bloc reached the greatest commercial volume of its history in 2022. According to an official report, the volume of purchases and sales with the rest of the world topped US$ 752.6 billion. Despite some heated discussions in the latest Mercosur summits, the bloc keeps delivering indicators that prove its relevance. Following a deceleration phase, commercial trade between full members regained impulse in the last two years and topped pre-pandemic levels by 38%.

Source: Bueno Aires Herald July 04, 2023 20:52 UTC