China premier calls for free trade with Lat-Am trade bloc
BRAZIL: Chinese Premier Wen Jiabao on Monday proposed a possible free
trade pact between the Asian powerhouse and South American nations that
make up the Mercosur regional trade bloc.
"We should conduct feasibility studies on the possibility of a free
trade deal," said Wen, flanked by Argentine President Cristina Fernandez
in a videoconference with regional leaders, during a visit to Buenos
Aires. "China is prepared to enter into ministerial-level talks with
Mercosur nations," he said in the videoconference that included
Brazilian President Dilma Rousseff and Uruguayan President Jose Mujica,
noting that China is already Mercosur's second-biggest trade partner.
Paraguay is also part of the bloc but has no diplomatic ties with
China because it recognizes Taiwan, which Beijing considers a rebel
province. On Sunday, Mercosur suspended Paraguay's membership after the
speedy impeachment and ouster last week of its president, Fernando Lugo.
In 2011, China's exports to the Mercosur, South America's largest
trading bloc, totaled $48.45 billion, up 34 percent from the previous
year, while imports from Mercosur reached $51.03 billion, according to
Argentine government figures. Beijing wishes to double this trade by
2016, said Wen.
Wen has already stopped in Brazil and Uruguay during a four-nation
tour of South America that wraps up later this week in Chile. AFP
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