Mercosur Ready to Sign Deal with Morocco

2004-10-22

[Mercosur]

The South American common trading organisation, Mercosur, says it is ready and willing to sign a favoured trade relationship with Morocco, a move which could ultimately lead to a free trade agreement. A senior Brazilian source suggests this agreement could be worked out ahead of the May summit in Brazil between Arab and Latin American heads of state. Morocco is seen as having strategic value for Mercosur because of the country's proximity to the EU and the fact that it already has signed trading relations with the Union. Morocco, meanwhile, is seeking to expand its markets. (Bloomberg)

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