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Mercosur and Spain agree on cooperation for a 'new era'
🇵🇾 Paraguay /Economy & Trade

Mercosur and Spain agree on cooperation for a 'new era'

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

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  • Mercosur and the Spanish Agency for International Development Cooperation (Aecid) signed a four-year memorandum of understanding for cooperation.
  • The agreement aims to foster collaboration on knowledge generation, best practices, and technical/financial support in areas of mutual interest.
  • Officials believe the pact will help Mercosur adapt to a "new era," particularly with the bloc's recent agreement with the EU, potentially increasing European investment.

Mercosur and the Spanish Agency for International Development Cooperation (Aecid) have formalized a partnership aimed at navigating a changing global landscape. A memorandum of understanding was signed in Montevideo, establishing a framework for cooperation over the next four years.

It is going to allow us to use new instruments. Furthermore, within Mercosur there are also countries with different degrees of development and we are going to be able to adapt the new instruments according to the development key of the counterparts.

— Javier Salido OrtizThe Spanish Ambassador to Uruguay explained how the new agreement would facilitate tailored cooperation.

The agreement focuses on generating knowledge and exchanging experiences through best practices. It also includes developing tools and providing technical and financial support on issues of shared interest. Seminars, workshops, conferences, and training programs are planned as part of the collaboration.

Paraguayan Ambassador to Uruguay, Didier Olmedo, described the pact as a crucial step for Mercosur to adapt to "a new era." He noted that with the Mercosur-EU agreement now in effect, the South American bloc has an opportunity to increase European investment and trade. However, Olmedo emphasized the need for Mercosur to undergo internal adjustments to fully capitalize on these opportunities and meet new commitments.

There is a need for adjustments both to take advantage of the opportunities and to comply with the commitments. There are many disciplines of that agreement that are not Mercosur-ized. Therefore, cooperation will help us at this very important time.

— Didier OlmedoThe Paraguayan Ambassador to Uruguay stressed the importance of the cooperation agreement for Mercosur's adaptation process.

Spanish Ambassador to Uruguay, Javier Salido Ortiz, stated that the memorandum will allow for the use of new cooperation instruments. He highlighted that these instruments can be adapted to the varying development levels within Mercosur's member states. The initiative aligns with Spain's broader strategy for international cooperation outlined in its 2024-2027 plan.

It will help the bloc adapt to 'a new era'.

— Didier OlmedoThe Paraguayan Ambassador to Uruguay commented on the significance of the memorandum of understanding.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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