Panama Participates In Its First Mercosur Summit As An Associate -

(MENAFN- Newsroom Panama) Panama President Mulino emphasized the need to build a water reservoir to guarantee the availability of water for the Interoceanic Waterway and the population, preventing future damage like those caused by the El Niño phenomenon. In his first address to the Southern Common Market (Mercosur) Summit, Panamanian President José Raúl Mulino raised the urgent need to support the Indio River project with the bloc's leaders on Thursday, July 3rd, a project he considers vital to the continued operation of the Panama Canal in the face of the effects of climate change. “I am presenting our water resources project for the Canal to the international community. The Indio River project is necessary, urgent, so that the Canal never again experiences drought,” emphasized Mulino, who was at the main table accompanied by Foreign Minister Javier Martínez Acha and Minister of Commerce and Industry Julio Moltó.

The Indio River Water Project in Panama is a National and International Priority that Mercosur Could Support

The Southern Common Market (Mercosur) Summit, being held in Buenos Aires, Argentina, will be the first in which Panama will participate as an associate state, after joining this trade and economic bloc in December 2024. The first day of the summit concluded on Wednesday with a meeting of the bloc's Common Market Council, attended by the foreign ministers of the member and associate states; Foreign Minister Javier Martínez-Acha represented Panama. “In a new day of joint work aimed at promoting a common agenda for the region, the 66th Ordinary Meeting of the Common Market Council (CMC) concluded,” announced the Argentine Foreign Ministry, marking the end of the first of the two days of the summit.

The meeting, about which no information has been released so far, followed a first meeting of the CMC attended only by member countries. Following that first meeting, the Argentine Foreign Ministry announced the conclusion of negotiations for a free trade agreement between Mercosur and the European Free Trade Association (EFTA, comprised of Iceland, the Principality of Liechtenstein, the Kingdom of Norway, and the Swiss Confederation). During the announcement, Brazilian Foreign Minister Mauro Vieira also referred to the free trade agreement the South American bloc is seeking to seal with the European Union (EU) and, when contacted by reporters, said he sees no difficulties in its approval.

“I think there may be some resistance in some countries, but the EU's outlook is positive and leads us to believe that soon, after the signatures, it will be sent to the European Parliament for approval and then to the national parliaments of each country,” he said. Earlier, the economy ministers and central bank presidents of the Mercosur member countries held a meeting to discuss fiscal policy and its importance for macroeconomic development, according to official sources. The meeting was chaired by Argentina's Minister of Economy, Luis Caputo, who discussed with representatives from Paraguay, Brazil, and Uruguay“the importance of maintaining an orderly fiscal framework for a sustainable long-term macro-economy.”

Attendance

The summit will continue today, July 3, with a meeting of heads of state. The Panamanian Presidency announced that the President of the Republic, José Raúl Mulino above right, will attend the Mercosur plenary session and the transfer of the pro tempore presidency from President Javier Milei above left of Argentina, to the President of Brazil, Luis Inácio Lula da Silva. In parallel to the plenary session, Mulino will hold bilateral meetings and will be received at the Legislative Palace of the City of Buenos Aires as an illustrious visitor. The Panamanian president will also be joined by the Minister of Commerce and Industry, Julio Moltó pictured below.

Argentine Foreign Ministry

The 66th Ordinary Meeting of the Common Market Council concluded in a new day of joint work aimed at promoting a common agenda for the region.

Mauro Vieira Foreign Minister of Brazil

I think there may be some resistance in some countries, but the EU's outlook is positive and we believe that soon, after the signatures, it will be sent to the European Parliament for approval and then to the national parliaments of each country.”

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