SOUTH AFRICA TO JOIN MERCOSUR
South Africa will join the South American Mercosur trading bloc as an associate member, according to foreign news sources quoting a statement from Brazil’s foreign minister, Felipe Lampreia.
Mercosur currently comprises Argentina, Brazil, Paraguay, and Uruguay. Chile and Bolivia are associate members.
Lampreia said that such an accord would significantly expand trade between South Africa and the Mercosur nations, especially in the automobile sector. Although there is less than $1 billion in trade between Brazil and South Africa, he noted that South Africa’s foreign trade of $40 billion is approximately half of Brazil’s.
In the next three months, ministers from Mercosur countries will meet with the South African government to start negotiations.