From the Newsroom*
São Paulo – A group of Brazilian diplomats headed by ambassador Régis Arslanian, head of the international negotiations department of the Itamaraty (head office of the Brazilian Ministry of Foreign Affairs), left yesterday (14) to Riyadh, the capital city of Saudi Arabia, with the objective of proceeding with negotiations for a free trade agreement between Mercosur and the Gulf Cooperation Council (GCC). GCC is an economic bloc comprised of Saudi Arabia, Bahrain, Qatar, the United Arab Emirates, Kuwait and Oman. Mercosur is integrated by Brazil, Argentina, Paraguay, Uruguay and Venezuela.
The meeting between representatives of the two blocs will take place on Sunday (17) and may last until Monday. After the last meeting, held in October, the Itamaraty informed that a tariff reduction scheme has been approved which should cover 100% of the tariff universe for commercialised goods between the two blocs, not including products for which imports are banned in Arab Gulf countries. The Brazilian diplomats believe that the negotiations will be concluded shortly.
Official negotiations started officially in May last year, during the Summit for South American and Arab Countries (Aspa), in Brasília (the capital city of the country, located in mid-western Brazil), when the two blocs signed a frame agreement.
*Translated by Gabriel Pomerancblum
