The news was confirmed by sources close to ANSA
The closure of negotiations on the technical part of the trade agreement between the European Union (EU) and Mercosur is expected to be announced on Friday (6).
This was reported on Thursday (5) by sources close to the Mercosur negotiators, on the sidelines of the summit of the group formed by Argentina, Brazil, Paraguay and Uruguay – recently integrated Venezuela and Bolivia – in Montevideo.
During the summit, the EU and Mercosur will reportedly not sign “the text of the agreement”, i.e. “the legal instrument”, but will issue “a joint statement confirming the conclusion of the technical part”.
Furthermore, the President of the European Commission, Ursula von der Leyen, who will also participate in the meeting in Uruguay, will announce a cooperation fund on environmental issues for the Mercosur countries.
Previously, Von der Leyen had already indicated that the trade agreement between the blocs would be “close”, after the landing.
“The finish line of the EU-Mercosur agreement is near. Let’s work, let’s cross it. We have the opportunity to create a market of 700 million people, the largest trade and investment partnership the world has ever seen. Both regions will benefit from it benefit”, he wrote on X.
The trade deal between Mercosur and the EU has been negotiated for 25 years, and a text was announced in 2019, but has never been ratified. In 2023, discussions were reopened due to new environmental demands from Brussels that angered South American countries.
Despite having the support of Germany, Europe’s largest economy, the agreement faces resistance from governments in countries such as France and Poland, pressured by farmers who fear competition from Mercosur products. Italy says it is in favor of the treaty, but asks for changes to the chapter on agriculture. .
Source: Terra
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