Brazilian President Luiz Inacio Lula da Silva waves during the closing ceremony of the 68th Mercosur Heads of State Summit in Luque, Paraguay, on Tuesday. Photo by Juan Pablo Pino/EPA
ASUNCION, Paraguay, July 1 (UPI) -- The Southern Common Market, known as Mercosur, launched negotiations for an economic partnership agreement with Japan during its summit of presidents this week in Paraguay.
The proposal reflects the bloc's push for greater engagement with Asia as it seeks to resolve internal differences over trade quotas related to its agreement with the European Union.
Paraguayan President Santiago Peña, Brazilian President Luiz Inácio Lula da Silva, Uruguayan President Yamandú Orsi and Argentine Foreign Minister Pablo Quirno participated in Tuesday's Summit of Presidents. Also attending were Bolivian President Rodrigo Paz Pereira and Chilean President José Antonio Kast.
During the meeting, the leaders welcomed starting negotiations with Japan and highlighted "the potential of this process to strengthen economic and trade ties between both parties."
