(VOVWORLD) - Argentine Foreign Minister Diana Mondino has urged the Southern Common Market (Mercosur) to be more flexible in negotiations and seek free trade agreements with Vietnam and Indonesia.
Mondino told a Mercosur summit in Asuncion, Paraguay, that the bloc needs major reforms to boost internal trade and expand cooperation with other markets.
She said Mercosur has the potential to diversify and expand global relations, but members haven't fully utilized this potential and need radical reforms. Mondino suggested Mercosur become more dynamic and better adapt to future challenges, including AI.
Mercosur is a South American trade bloc established by the Treaty of Asunción in 1991 and the Protocol of Ouro Preto in 1994. Its full members are Argentina, Brazil, Paraguay and Uruguay.