SOUTH AFRICA may soon join Bolivia and Chile as an associate member of Mercosur, the South American trading bloc.
That's according to the internet news service Schednet. FTW was awaiting further detail from director of bilateral trade, Tshediso Matona, who was unavailable for comment when this issue went to press.
Ministers from South American Mercosur countries will begin negotiations with the South African government within the next three months.
It is hoped that the introduction of South Africa will benefit all the countries involved with Mercosur, especially in the trade of automobiles.
Members of the South American trading bloc include Brazil, Argentina, Paraguay and Uruguay.
Argentina accounts for around 27% of the Mercosur GDP. Brazil's share exceeds 70%.
Mercosur countries have preferential trade agreements with each other and have an average trade-weighted external tariff of 17%.
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