Japan, Mercosur Launch Strategic Partnership Framework

Sao Paulo, Dec. 20 (Jiji Press)–Japan and Mercosur, the South American trade bloc including Brazil and others, launched a strategic partnership framework on Saturday to strengthen economic and trade relations. In a joint statement, the two sides said that they “will strive to bring their cooperation to a higher level, further strengthening strategic relations…from a long-term and comprehensive perspective.” The launch of the framework was announced as the Mercosur summit was held the same day. Japan and Mercosur will hold talks to map out concrete measures to strengthen their ties, which may include an economic partnership agreement. They plan to begin the talks early next year. The Japanese business community hopes that Japan and Mercosur will sign an economic partnership agreement. On the other hand, those in the agriculture industry are wary of a possible influx of cheap farm products from the region. Mercosur is seeking stronger relations outside the region, promoting free trade agreements, including with the European Union, Canada and Singapore. Meanwhile, Japan aims to enhance its ties with emerging and developing economies in the Global South. END [Copyright The Jiji Press, Ltd.]