Latin America Cautiously Responds to Britian Decision to Exit from European Union Xinhua
go to original June 25, 2016

A woman passes a mural that has been painted on a derelict building in Stokes Croft showing US presidential hopeful Donald Trump sharing a kiss with former London Mayor Boris Johnson in Bristol, England. Boris Johnson led the campaign for Britain to leave the European Union in a referendum which took place on June 23. Republican presidential hopeful Donald Trump has backed the so-called Brexit. Johnson's "leave" campaign ultimately won the Brexit vote. (Matt Cardy/Getty Images)

Update: Brexit Petition Passes 2 Million as Demand for Second EU Referendum Grows (Independent)

On a day where the world was still trying to absorb the UK's decision to leave the European Union (EU), Latin American countries responded with a mixture of worry and cautious respect.

Mexican Foreign Ministry issued a statement saying "at this historic moment, Mexico remains determined to keep building on the excellent ties of friendship, the significant investment and trade ties, and the educational, cultural and technological cooperation that links it to the UK."

It also stated that, in 2015, bilateral trade rose to 4.312 billion U.S. dollars, making UK Mexico's 17th largest trading partner and sixth largest within the EU.

Brazil took a sterner stance, with a government spokesperson saying that the UK's exit deprived the Common Market of the South (Mercosur), the regional trading bloc, of an important ally in its negotiations for a free-trade agreement (FTA) with the EU.



According to Daniel Godinho, secretary of foreign trade at the Ministry of Industry, Foreign Trade and Services, the full impact is difficult to quantify but the UK was one of Mercosur's main allies in securing this deal.

"However, we will continue with this process by counting on other actors which support such a deal," he added.

In 2015, Brazilian exports to the UK rose to 2.9 billion dollars, accounting for 8.5 percent of the country's exports to the EU.

Uruguay President Tabaré Vázquez said Friday that the UK's departure from the EU will make it more difficult for the bloc to sign a FTA with Mercosur.

"We will continue working but this does complicate negotiations for an FTA between Mercosur and the EU," he said at a cabinet meeting Friday morning, where Foreign Minister Rodolfo Nin Novoa confirmed that the two commissions working toward the FTA will continue their scheduled meetings.

Read the rest at Shanghai Daily

Related: First Round of EU-Mexico Negotiations to Update Economic Partnership Agreement Completed (Global Trade)

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