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Negotiations for a treaty between Mercosur and the European Union (EU) are “blocked,” said French Economy Minister Bruno Le Maire. In addition to the meeting of G20 ministers in Buenos Aires, Le Maire stressed that South American farmers should be subjected to the same demands as their European peers.

So far, both European and Mercosur emissaries spoke of progress in these discussions that are currently taking place in Paraguay, the country that presides over the bloc that is completed by Argentina, Brazil and Uruguay.

“The negotiation with Mercosur is blocked for different reasons,” he said. “The decision of the South American countries is expected but for the moment it is blocked,” the minister said at a press conference in English.

“We believe in a free trade based on total reciprocity, which means that the rules applicable in France or in Europe, should be in Argentina or Brazil. If the rules are not equal, we must find a compensatory measure, “he said.

Le Maire, former Minister of Agriculture of former President Nicolas Sarkozy, said: “one can not explain to a producer that he must comply with very restrictive rules in France, in Germany, in Spain or in Italy if the same product is not made from the the same way in another continent. ”

Argentina gave a different version of the negotiations. Argentine Economy Minister Nicolás Dujovne estimated that an agreement between the parties can be reached before the end of the first half of the year.

The discussions between both blocks began almost 20 years ago. Europeans fear that their market will be invaded with agricultural products and South Americans that their industries will be harmed by goods manufactured in Europe.

Latin America and the Caribbean will grow 2.6% on average between 2018 and 2020, below global growth, due to low levels of investment and productivity, the Inter-American Development Bank (IDB) said today when presenting its macroeconomic report.

Although the Latin American region grows again after two years of recession, it does so at a much lower pace than other regions, such as Asia and emerging Europe, which project growth of 6.5% and 3.7%, respectively in that same period.

The Latin American expansion, however, is unequal: it is expected that the Southern Cone (excluding Brazil) will present a growth rate of 2.9% in 2018-2020, that Mexico will grow 2.7% in that triennium; and that Brazil does it 2%.

“The good news is that most of the region has grown again,” said José Juan Ruiz, chief economist of the IDB, when he presented the first part of the report in the framework of the annual assembly of the organization that is being held these days. in Mendoza (Argentina).

Ruiz pointed out that “growth is not fast enough to satisfy the desires of the growing middle class” and stressed that “the biggest challenge is to increase the levels and efficiency of investments so that the region becomes more productive, grows in a faster and more stable and safeguard the region from external shocks. ”

Hundreds of economic and political leaders from the region attend the annual meeting of the Pan-American financial institution, which will last until this Sunday, March 25.

In addition, the commission clarified that the number of those summoned for these processes are different because, for the presidential election, all Venezuelans of legal age enrolled in the CNE are counted, even those who are abroad.

However, for legislative councils, people abroad and the inhabitants of the Capital District were excluded, due to the fact that they have a special administrative regime and added that foreigners with more than ten years of residence in the country will be able to vote next May 20th.

The cutoff for the Electoral Registry is based on voter data gathered until March 10, the date on which the registration process for new voters and the updating of data closed.

This data was audited by the different organizations with candidates for this new election day.

Peru was for the first time transformed as the largest exporter of copper concentrates to China, the main consumer of the red metal, surpassing Chile. At least this is shown by the relevant figures of Peruvian customs.

As of August 2017, the Asian giant received 3.22 million tons of concentrates from Peru, while Chile reached 2.72 million tons. Although last year shipments of Peruvian concentrates to China were close to equating Chileans, analysts expect 2017 to close with a consolidation of the Inca country.

Among the reasons cited by the Bloomberg agency is the long standoff faced by Escondida, the world’s largest copper mine, at the beginning of the year, which lasted 44 days.

Meanwhile, in the neighboring country grew the production of the red metal after the implementation of new projects or large expansions of existing works.

The GDP of the Latin American economy will rise by 2 percent in 2018, almost double that of the forecast for the current year, of 1.1 percent, according to forecasts by the Economic Commission for Latin America and the Caribbean (ECLAC). The impulse that is beginning to be felt in the region is mainly due to the rise in the price of raw materials, the increase in world trade and the dynamism of the economies of Mexico and Brazil and Argentina, which recover from a long and deep crisis, according to the Executive Secretary of the Commission, Alicia Bárcena.

However, the low growth expected for this year, coupled with two continuing recessionary years, could be reflected in an urban unemployment rate of 9.4 percent in 2017, higher than the previous forecast, and 0.5 percentage points higher than in 2016. In this unemployment rate is influenced by the lower contribution of Foreign Direct Investment (FDI), which would fall 5 percent in all Latin America in 2017 to add four years of consecutive falls, although a better outlook is expected for next year . “The investment should be better than in 2017, I see it closer to stabilizing in 2018,” said the head of the agency that depends on the United Nations.

However, this year the data are more positive than in 2016, when FDI decreased 17 percent from the high reached in 2011 with 206.935 billion dollars. In the region, FDI only grew in nine countries between 2015 and 2016, including the Bahamas, Panama, Colombia, the Dominican Republic, Brazil and Paraguay, among others.

Despite the recession, Brazil increased its income by 5.7 percent in 2016 and was the main recipient. Thus, it is vital to know that investment flows represent 3.6 percent of Latin American GDP.

Among the sectors to be highlighted in order to continue on the right track, according to Cepal, are the renewables, which could be an essential link to attract foreign capital in Brazil, Peru, Chile and Mexico. Also, lithium mining could advance in Bolivia or Argentina, along with tourism in Central America or manufactures in the largest economies in the region. To this end, among the challenges mentioned by Bárcena is to encourage the investment and commercial insertion model, as well as to jump on “the train that already started” of technology and sustainable development, with a focus on smart cities and innovation.

JBS canceled a planned $ 500 million initial public offering (IPO) of its processed food subsidiary JBS Foods International BV, nearly six months after corruption and food grade scandals affected investor demand for the operation.

In a filing with the United States Securities and Exchange Commission (SEC) on Friday, JBS Foods International requested withdrawal of the IPO because “it decided not to push the sale of securities (…) at this time.” Neither the parent, JBS, nor the unit provided details or offered any new timeline for the transaction.

Both companies had announced the plan to open on the stock exchange in the United States on December 5. Sao Paulo-based parent company JBS, which is the world’s largest refrigeration group, reaffirmed in August plans to list the subsidiary on the stock exchange, saying a deal could take place by the end of next year.

The proposal for the IPO of JBS Foods International was first tested in March after a scandal over alleged bribes of health officials led to bans on Brazilian beef exports.

Two months later, two members of the family that controls JBS reached an agreement of demarcation before the Brazilian justice in relation to a research on corruption. Family members, the Wesley brothers and Joesley Batista, were arrested last month in connection with insider trading and other crimes related to their agreed statement.

Wesley, JBS ‘former CEO, had to resign as a result of his arrest.

The report, which will be presented for approval next week at the Foreign Affairs Committee, and then approved at the Strasbourg plenary in September, emphasizes the European Union’s “strategic relationship” with Latin America as a priority, in a context of World change, erected among other factors by the protectionist positions of Donald Trump.

The free trade agreement between the European Union (EU) and Mercosur, which was announced this week will have its first political agreement by the end of the year, can be endorsed by the European Parliament in the first months of 2019, said MEP Javi López, author of the report that recommends giving priority to “the strategic relationship” with Latin America.

“It will be the same as with the agreement signed yesterday by the EU with Japan, the political framework will be closed and then technical work will continue in small print and is expected to be approved during this term, which ends in May Of 2019, “Spanish socialist MEP Javi López told Télam in Madrid.

López is the author and rapporteur of the report “Political Relations of the European Union with Latin America”, commissioned by the Committee on Foreign Affairs of the European Union, which represents the official position of the European Parliament on relations between the European Union and Latin America Latina. In turn, the Committee on Foreign Affairs has among its functions to approve the agreements signed by the community block.

Newsan Group, through its food marketing company Newsan Food, formed the consortium. The experience is in line with the one realized in the country by great players, like Arcor and Coca Cola, to acquire large quantities of production of regional economies.
“We are looking for regional economies and producers who are eager to export and who do not find the marketing channel or need some working capital support to develop more production and increase volume,” Newsan Foods CEO Verónica Nohara told Télam , Who said that the consortium is “1,500 regional producers across the country, generating 4,250 jobs between direct and indirect, and exports to 68 countries.” Sales totaled US $ 292.2 million.

The 1,500 producers are from regional economies of the provinces of Buenos Aires, Chubut, Cordoba, Corrientes, Entre Ríos, La Pampa, Mendoza, Misiones, Salta, San Luis, Santa Cruz, Santa Fe and Tierra del Fuego. The products that are exported are fish, honey, peanuts, plums, raisins, rice, beans, chickpeas, lentils, pisingallo maize and giblets vaccines.

“We are exploring the possibility of adding provinces, such as La Rioja, and new products, such as citrus, mainly lemons”, explained Nohara, who stressed that “since the start we are trying to create an umbrella brand, which the world consumer Identify with the origin of the products we are exporting. “

The main supplier of the country plans to increase sales by increasing demand for public works and also the recovery of industrial sectors.

The production and sale of steel by Acindar, the country’s main supplier, will grow at least 10% this year, driven by higher demand for public works, but also by the recovery of different industrial sectors, Million tons.

“We came from a rather complicated 2016 because it was the first year after a government transition that had its impact on Acindar’s sales levels, but today the indicators are recovering and the prospects are good in light of the reactivation of the Public works and infrastructure, “Facundo Velasco, Manager of Legal and Institutional Affairs at Acindar told Télam.

In the year in which he celebrates his 75th anniversary, Velasco stressed that “forecasts have been accurate, and both production and sales in real terms have improved.” According to the Argentine Chamber of Steel, crude oil production in April was 367,400 tonnes, representing a growth of 15.1% over the same period of the previous year.

As the main supplier of long steel in the country, the demand for the reactivation of public works and infrastructure development impacts on the activity of the company that is part of the Arcelor-Mittal Group. In this regard, Velasco estimated that this year will record “at least a 10% increase over 2016.”