The president of Consecomercio, José Gregorio Rodríguez, recently announced that the organization submitted a proposal to the U.S. Chargé d’Affaires in Venezuela, John Barrett, regarding a free trade agreement for the non-oil sector.

According to Rodríguez, during the meeting, “business representatives indicated that making progress on this matter is a high-impact objective for national economic activity because it is an issue that concerns us all.”

The proposed free trade agreement between the two countries seeks to establish a “bilateral framework focused on reducing tariffs on a variety of goods, thereby diversifying Venezuelan exports to the North American market, prioritizing products such as shrimp, seaweed, coffee, and cocoa.”

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The European Union and Australia signed a free trade agreement to address the challenges of the global market and as a strategy against US tariffs.

With this agreement, “Brussels intensifies its market diversification after Trump’s tariffs and secures a key partner for obtaining critical raw materials” from Australia, such as lithium and manganese.

The document establishes some concessions regarding designations of origin, particularly for European emblems such as prosecco and feta cheese.

This is an effort by the EU to expand its trading partners, considering the “geopolitical tensions surrounding the Iran affair and after the United States shook up the global economic landscape with its indiscriminate tariffs.”

As expected, this agreement opens the door to tariff-free exports of most Australian products to the EU, and vice versa.

“EU calculations indicate that European exporters, producers, and farmers will save €1 billion in tariffs on EU sales valued at over €20 billion.”

Additionally, the EU signed another security and defense agreement, which will serve as a framework for “greater cooperation in the defense industry and Australia’s participation in the European Horizon science program.”

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During a recent meeting in New Delhi between Canadian Prime Minister Mark Carney, and his counterpart Narendra Modi, Carney announced that both nations plan to sign the Comprehensive Economic Partnership Agreement (CEPA) before the end of this year.

The ambition of both nations is to double bilateral trade to $50 billion by the end of the decade. Regarding this, Carney stated: “We are moving towards an ambitious agreement that will reduce barriers, increase certainty, and unlock opportunities for exporters, investors, and workers in both countries.”

Meanwhile, the Prime Minister of India described the treaty as “the absolute priority to realize the economic potential of both nations.”

Modi declared that his country has endorsed the signing of the CEPA soon in order to “create new investment and job opportunities.”

Efforts will focus, until 2030, on strategic sectors such as technology, artificial intelligence, and critical minerals.

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Chile and Panama maintain their commitment to strengthening economic cooperation and the trade ties that bind them through the bilateral Free Trade Agreement.

This was announced after a recent meeting between the Minister of Commerce and Industries of the Central American nation, Julio Moltó, the Chilean Ambassador to Panama, Alejandro Sfeir Tonsic, and the Consul, Jorge Díaz Pacheco.

At the meeting, the representatives of the two nations “addressed concrete actions to boost bilateral trade and advance a joint agenda focused on results.”

Molto emphasized the desire to see more Panamanian products in the Chilean market bearing the “Made in Panama” label. This means more coffee, agricultural products, and other value-added goods.

During the meeting, the ambassador and the consul reiterated their commitment to “continue promoting an agenda that facilitates trade, focused on simplifying procedures and accelerating the necessary coordination so that more Panamanian products can reach Chile. The goal is for companies to have clear pathways, defined timelines, and predictable rules to export competitively.”

The officials also discussed the importance of fostering business networking opportunities, “including organizing a Panama-Chile business matchmaking event in the coming months, which will connect companies, importers, and potential strategic partners, and promote new trade and investment opportunities.”

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The free trade agreement between the Southern Common Market (Mercosur) and the European Union will be signed on December 20, according to Brazilian President Luiz Inácio Lula da Silva, who made the announcement after participating in the G20 Summit held November 22-23 in Johannesburg, South Africa.

According to the Brazilian president, the Mercosur-EU agreement “is being forged with the President of the European Commission, Ursula von der Leyen, despite the criticisms of the agreement expressed by European countries such as France.”

He emphasized that, regardless of any differences with EU countries, the negotiations are being conducted with the President of the Commission, Ursula von der Leyen, and the negotiators.

This agreement has been under negotiation for over two decades, with French President Emmanuel Macron “being the most resistant to a free trade pact, because in that case it would require opening the agricultural market to products from South American countries.”

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Canada and Mercosur member States will resume negotiations on a free trade agreement in October, a Brazilian representative said last week.

The announcement comes as a light at the end of the tunnel for the parties amid the tariff offensive by US President Donald Trump.

Talks between Canada and Mercosur — made up of Brazil, Uruguay, Paraguay, Bolivia, and Argentina — are crucial for opening new trade opportunities in both regions.

The Ministry of Foreign Affairs of Brazil, the current president of Mercosur, stated in a statement that the resumption of trade negotiations “between Mercosur and Canada constitutes an unequivocal sign of our shared commitment to deepening mutually beneficial economic ties and opening up new and significant opportunities.”

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Mercosur representatives held a meeting in Buenos Aires, Argentina, on Thursday, July 3, and signed an agreement with the European Free Trade Association (EFTA) as a further step toward signing the Free Trade Agreement with the European Union.

During last week’s meeting, the agreement was signed with the European bloc EFTA, “made up of Norway, Switzerland, Iceland, and Liechtenstein, which includes trade in goods and services, investment, and public procurement,” among others, although it is pending ratification by the parliaments of the member states.

Mercosur members consider this agreement a major step toward the signing of the final agreement with the EU, which they hope will materialize before the end of the year, despite resistance from European countries such as France.

Created in 1991 by Brazil, Argentina, Uruguay, and Paraguay, Mercosur admitted Bolivia a year ago. The group of Latin American countries also includes Chile, Colombia, Ecuador, Guyana, Panama, Peru, and Suriname as partners.

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This Saturday, during the events commemorating the inauguration of President Daniel Noboa, Production Minister Luis Jaramillo and Canadian Minister of Export Promotion Maninder Sidhu signed a joint declaration to accelerate the signing of a Free Trade Agreement (FTA).

Through the document, the Ecuadorian government reaffirmed its commitment, along with Canada, to move toward signing the trade agreement, which was already negotiated in January 2025.

It is important to remember that on February 2, both nations “closed negotiations for a trade agreement that will facilitate the Andean country’s access to a market of 39.8 million consumers under preferential terms, according to the Presidency.”

The negotiations are expected to strengthen bilateral trade, in addition to creating “new growth opportunities for Ecuadorian producers, exporters, and entrepreneurs.” Key sectors will benefit, such as “floriculture, food, tuna, textiles, auto parts, ceramics, footwear, wood, juices and pulp, cosmetics, plastics, hats, and tagua, among others.”

Ecuador and Canada will also seek job creation and the development of small and medium-sized enterprises (MSMEs).

Priority will be given to strategies to support the agricultural and family farming sectors, especially in products such as rice, dairy products, corn, sugar, pork, beef, and poultry.

Other crucial aspects of this future agreement will include promoting investment, cultural cooperation and exchanges, and promoting e-commerce, among others.

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India and the United Kingdom reached a free trade agreement that will allow the two nations to reduce import tariffs on certain goods and products.

According to Indian Prime Minister Narendra Modi, the agreement has been under negotiation for three years. In his opinion, it is an ambitious and mutually beneficial initiative.

For his part, British Prime Minister Keir Starmer called it a “milestone that is fantastic news for British businesses, British workers, and British shoppers.”

It was learned that, thanks to the agreement, products such as whiskey and gin, cosmetics, medical products, car and aircraft parts, and other goods from the United Kingdom will benefit from tariff reductions.

Regarding Indian products, the Asian nation’s prime minister emphasized that “99 % of Indian exports will not be subject to tariffs.”

The United Kingdom has indicated that it is confident that “the agreement will increase bilateral trade by 25.5 billion pounds (30 billion euros) per year in the long term.”

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China, Japan, and South Korea, the three largest Asian economies, are accelerating negotiations for a free trade agreement that will allow them to address Donald Trump’s tariffs and their consequences.

The ministers of the three nations in charge of industry and trade met in Seoul to expedite negotiations to address the effects of tariffs on “products such as vehicles, trucks, and auto parts.”

This meeting, attended by South Korean Industry Minister Ahn Duk-geun, his Japanese counterpart, Yoji Muto, and Chinese Commerce Minister Wang Wentao, led to the creation of “a predictable business and investment environment,” according to a joint statement.

A trilateral free trade agreement will serve as a mechanism to address shared global challenges through joint collaboration.

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