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Brazil, Uruguay one step closer to integration

July 31st, 2010

Brazilian President Luiz Inacio Lula Da Silva (L) and his Uruguayan counterpart Jose Mujica

The presidents of Brazil and Uruguay Friday signed a package of cooperation agreements aimed at accelerating political and economic integration between the two neighbors and the region.

“We undertake a strong commitment to strengthen bilateral and regional integration, highlighting the importance of Mercosur and Unasur (regional trading blocs) as the foremost vehicles for political, social, economic and commercial integration of the region,” Presidents Luiz Inacio Lula da Silva and Jose Mujica said in a joint statement.

Brazil’s Lula and Uruguay’s Mujica held their fourth meeting since the Uruguayan leader took office in March, in this Brazilian city on the border with Uruguay.

After the meeting, the pair signed cooperation agreements on defense, science, technology, energy, river transportation and fishing, and pledged to establish a common currency for the two nations to facilitate and boost commercial and social exchanges.

Brazil is Uruguay’s chief trading partner. Bilateral trade between the neighbors reached 1.3 billion dollars in the first six months of the year, a 23 percent increase from the same period last year.

Copyright © 2010 AFP

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