The Brazilian government announced that Mercosur Trade Alliance, which includes five South American countries, is about to complete a free trade agreement with the Arab Gulf Cooperation Council (GCC) and is expected to be signed during this year. Officials in Brasilia said last night that the agreement may be signed in June during the next summit meeting between the Alliance of Mercosur and the six GCC countries. Rio de Janeiro is currently holding the final talks on the agreement. These talks are in parallel with the preparations for holding the summit tomorrow. The Alliance includes Brazil, Argentina, Uruguay, Venezuela and Paraguay. Brazilian Foreign Minister Celso Amorim stated that many regions in the world are currently seeking to invest in the Gulf region. "They have resources in addition to markets. Alliance of Mercosur will benefit from the free trade agreement with GCC countries," Amorim said.
