Mercosur

The European Union and South America's Mercosur bloc dragged a long-delayed free trade deal over the line on Friday, announcing an agreement - at least in principle - on the pact that has deeply divided nations in Europe.

The European Union (EU) and Mercosur countries have reached a landmark agreement to establish one of the world's largest trade deals, encompassing a free trade area of over 780 million people.

Brazilian President Luiz Inácio Lula da Silva has said that he supports more countries joining the BRICS group of large developing nations, which currently includes Brazil, Russia, India, China and South Africa.

The group will hold a summit in Johannesburg from Aug. 22 to 24. The meeting will have in hand a list of others desiring to join ther group.

Argentina and Brazil, South America's largest economies, took aim at an "unacceptable" EU stance in negotiations with the Mercosur bloc for a free trade deal long delayed due to stated European environmental concerns.

Brazil has officially opened talks on a trade deal with the US, said Brazilian Economy Minister Paulo Guedes, quoted by Reuters.

Guedes said the negotiations are compatible with the recent trade agreement reached with the European Union.

Ministers responsible for trade in the EU meet at an informal meeting in Bulgaria.

The European Commission will be represented by Cecilia Malmström, Commissioner for Trade. Ministers will discuss the prospects for a trading system.

The European commission will block meat imports to the EU from all Brazilian companies involved in the scandal with products sold beyond their expiry date, stated a spokesperson of the institution.

Venezuela's top diplomat turned up uninvited to a meeting of the South America's Mercosur on Dec. 14, despite Caracas' suspension from the trade bloc for failing to meet democratic and trade standards.

During the week, Bulgarian President Rosen Plevneliev was on a five-day official visit to Latin America, meeting both his Brazilian and Argentinian counterparts, namely Dilma Rousseff and Mauricio Macri.

The relations between the EU and Mercosur were in the focus of the talks held by Plevneliev with the political leaders and business representatives of Brazil and Argentina.