Brazilian President, Luiz Inácio Lula da Silva, has invited Mexico to join South America in an only trade bloc with global aspirations. The Brazilian leader currently visiting Mexico with a numerous trade delegation also called on his hosts to join Mercosur.

Mexican president, Felipe Calderón, thanked his Brazilian counterpart for the invitation to join Mercosur during a business forum with corporate leaders from both countries. Brazil has insisted on several occasions that Mexico and Brazil should team up to create a joint investments market, particularly for energy.

Lula said the integration process in Latin America is possible and there are "immense and extraordinary opportunities" for Mexican and Brazilian companies to associate and tackle international projects.

"It's a historic opportunity to look for opportunity niches. We must be bold and increase our countries potential, it's time we stopped caring about fear and moved on".

Lula was particularly interested in pointing out the possibilities of government owned oil companies such as Petrobras and Pemex, operating as an only company searching for oil and gas. He also invited Mexico to participate in developing alternative fuels such as ethanol of which Brazil is a leading global powder.

President Calderon said "we have geographic position to the north but our heart is in the south and in Latin America".

Mercopress

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written by Ric, August 07, 2007

I think the word you are looking for is "BLOC".

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written by Ric, August 07, 2007

Thank Yew.

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written by conceicao, August 08, 2007

In a more rational world, the U.S. would offer to cut or eliminate barriers to Brasilian agricultural exports, including ethanol, as an inducement to Mexico and Brasil to enter into the kind of energy
cooperation agreement that Lula apparently seeks. Brasil could then give better terms to a Mexican government that badly needs foreign help in order to optimize oil output. The U.S. of course
badly needs Mexican oil and the Mexicans would save face by bringing in Petrobras instead of a U.S. major oil company. Chavez and Castro would be screwed economically and diplomatically.

Instead, we have an abortion of an energy bill that the ethanol industry is trying to push through Congress, Pemex is a economic basket case that is badly damaging economic and political development in
Mexico, and Petrobras is trolling Putin-like trying to extend its virtual monopoly to the petrochemical complex in Brasil.

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