Mercosur Looks Beyond Itself

A trade bloc long seen as averse to trading outside itself is entering a new phase. The Common Market of the South (Mercosur) is seeking to speed up trade negotiations with individual countries and economic blocs outside South America, and is especially eager to reach a free trade agreement with the European Union. Political changes and recession in Mercosur's two largest economies, Argentina and Brazil, have shifted the bloc toward a more liberal trade policy, something its other full members, Paraguay and Uruguay, have always advocated. With Mercosur's decision-making built around consensus, and with every member country holding veto power, the bloc's direction has always been at the mercy of Argentina and Brazil. Their shift on trade is moving Mercosur past its protectionist reputation....