MERCOSUR detrimental to Brazil in past decades – Economy Minister

Minister Guedes said that Brazil is trading less with MERCOSUR partners today than it did 20 years ago, and that MERCOSURE "was a trap".

RIO DE JANEIRO, BRAZIL - Brazil's Economy Minister Paulo Guedes, on Tuesday, June 8, said that MERCOSUR membership has been detrimental to Brazil. In his opinion, membership in the bloc has halted the country's market expansion.

"Being united [in MERCOSUR] has damaged Brazil in the past 30 years. Brazil is trading less with our MERCOSUR partners today than it did 20 years ago. It was a trap. It prevented Brazil from engaging in a more productive industrial integration in global chains," he said during Bradesco BBI's online conference in London.

Guedes stressed that Brazil intends to "unilaterally"

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?