Mercosur (Brazil, Argentina, Uraguay, Paraguay and [soon] Venezuela) sign FTA with Israel.

http://www.reuters.com/article/idUSLDE62E1DM20100315?type=marketsNews

"a new free trade agreement between Israel and the Mercosur bloc -- Brazil, Argentina, Paraguay and Uruguay -- goes into effect in early April. Israel is the first non-Latin American country to sign such a trade deal with Mercosur."

"We will triple trade between Israel and Brazil by 2015," Paulo Skaf, president of the Federation of Industries of the State of Sao Paulo, said at a conference in Jerusalem attended by President Luiz Inacio Lula da Silva, Israeli President Shimon Peres and a group of Israeli and Brazilian business leaders. Brazil is Israel's largest trading partner in Latin America, with a number of large Israeli companies already exporting to Brazil.

Lula -- whose main goal of this visit is to promote Middle East peace and diplomacy over Iran's nuclear programme -- urged Israeli businesses to invest in Brazil, citing the country as one of the fastest growing in the world coming out of the downturn with growth of 5 percent forecast for 2010. In particular, Lula said he wanted to entice Israeli engineers to Brazil, in light of Israel's 4,000 engineers.

On Iran, Peres told Lula that "crippling economic sanctions" were needed to halt Iran's nuclear programme. But Lula has rejected Israeli and U.S. calls for sanctions.