Mercosur has moved to widen its trade options by formally launching negotiations with Japan for an economic partnership agreement at a summit in the Paraguayan capital, Asunción, on Tuesday (June 30).
The proposed EPA would bring Japan together with the South American bloc, whose members include Brazil and Argentina, in an economic area of around 400 million people and a combined gross domestic product of about US$7 trillion if the deal is concluded.
The launch followed talks on June 16 between Japanese Prime Minister Sanae Takaichi and Brazilian President Luiz Inácio Lula da Silva in Évian, eastern France. The two leaders agreed to begin negotiations on the sidelines of the Group of Seven summit.
