MERCOSUR enjoys significant progress

ARGENTINA: Argentina's Foreign Minister Hector Timmerman said that his country will transfer the pro tempore presidency of the Southern Common Market (MERCOSUR) to Brazil with substantial progress in all negotiating areas.

Timmerman presented the results of work during the last six months in the 39th Summit of Presidents of MERCOSUR and Associated States, held in San Juan city. The Minister also stated that during that time the emphasis was on perfecting the customs union and in developing specific initiatives for the productive integration of the bloc.

He was particularly pleased with the approval of nine new infrastructure projects worth US $794 million under the MERCOSUR Structural Convergence Fund (FOCEM) Timerman also emphasized the importance of the adoption by Uruguay, Paraguay, Brazil and Argentina of a coordinated management plan for the preservation of water resources of the Guarani dam.

The Minister thanked the renewed support provided by the countries of MERCOSUR and Associated States in their claim for sovereignty over the Malvinas (Falklands) and other South Atlantic islands. Buenos Aires, Prensa Latina