Mercosur-China Trade Talks Must Address Imbalance, Paraguay Says.

Mercosur, a South American trade bloc, is open to negotiating a trade agreement with China, but only if it addresses the current trade imbalance between the two partners, according to Paraguay's Foreign Minister Ruben Ramirez. Paraguay, in particular, faces a significant trade deficit due to the import of finished goods from China and the export of raw materials. However, no specific timeframe or trade items have been proposed for the negotiations. Paraguay also emphasizes that its diplomatic ties with Taiwan will not be sacrificed as a condition for pursuing a trade deal with China. Mercosur has faced challenges in securing trade deals with major countries or blocs, including a stalled free trade agreement with the European Union. Ramirez is currently a candidate to lead the Organization of American States and aims to modernize the organization by tailoring programs to the specific needs of each country and region in the Americas, particularly in the area of security. [Extracted from the article]