Argentine Foreign Minister Santiago Cafiero on Monday described the Mercosur-EU trade agreement as « bad, » as it will have « a negative impact on industry and agricultural exports » in the region.
Mercosur, a Spanish abbreviation for the Southern Common Market, is a South American trade block consisting of Argentina, Brazil, Paraguay, and Uruguay.
« Our administration has always proposed that (the agreement) be reopened because it does not reflect a balance where the two blocs both win, » Cafiero said in a statement.
If the deal « is implemented as it is, exports would have to be restricted. It is a bad agreement, » he said.
