Sao Paulo, February 20 (RHC) –- Ruben Barbosa, head of the Trade Council from the Sao Paulo State Industries Federation, FIESP, has announced that a viable proposal by MERCOSUR for a trade agreement with the European Union will be prepared by early March.

“MERCOSUR members are scheduled to meet on March 7th to conclude their proposal” said Barbosa, the former Brazilian ambassador in Washington and a trade expert who advises FIESP and who is currently in Paraguay attending a business conference.

Argentina, Brazil, Uruguay and Paraguay recently held a technical meeting in Caracas earlier this month to argue their different positions.

Barbosa said the agreement with the EU, the basis for a wide-ranging cooperation and free trade between the two blocs, “opens the possibility of integrating into the global production chain, which is positive for all MERCOSUR members.”