Mercosur hopes to conclude 'preferential accord' with Morocco, President

President of Argentina Nestor Kirchner said Thursday the summit of the common market of the south (Mercosur) hopes to conclude a preferential accord with Morocco.

Kirchner made this statement in opening remarks at the 26th summit of the south American customs union, held July 07-08 in Puerto Iguazu (Argentina).

The project of negotiations with Morocco is among the proposals in the report on the Mercosur market, submitted to the meeting of the common market council (CMC) held Wednesday, said a source close to Iguazu summit.

The same source underlined that there is a "consensus" within CMC on a proposal of the Argentinean presidency to start negotiations with Morocco for the conclusion of an agreement on "fixed preferences" in sectors where the two sides are complementary.

The project of negotiating a trade accord between Morocco and Mercosur, the third economic regional market in the world, was evoked last April during the visit of Moroccan Foreign Minister, Mohammed Benaissa to Brasilia and Buenos Aires.

Negotiations are expected to be launched under the new six-monthly Brazilian chairmanship of the south American economic grouping in the second half of 2004.