Negotiators from South America’s Mercosur trade bloc and the European Union are racing against the clock to finalize a long-delayed trade deal. Hopes are high that the agreement, which has been in the works for over two decades, could be announced soon as leaders gather in Uruguay.
Uruguay’s President has scheduled a meeting with European Commission President Ursula von der Leyen at the presidential residence in Montevideo, signaling positive momentum in the talks. This could be the breakthrough both sides have been waiting for.
The trade deal, supported by most South American countries and championed by Germany and Spain within the EU, has faced strong opposition from France. French concerns center around fears that increased agricultural imports from South America could harm its powerful farming sector.
Last week, negotiators from both sides met in Brazil, with sources indicating that all four founding members of Mercosur—Brazil, Argentina, Paraguay, and Uruguay—support the current terms. Virtual talks are continuing this week, with the possibility of delegations traveling to Montevideo if an agreement is reached.
Brazilian President Luiz Inácio Lula da Silva expressed optimism, stating that the deal is being negotiated directly with Ursula von der Leyen and that he is confident it will be finalized this year.
However, some remain skeptical. While progress has been made, European officials caution that no deal has been signed yet. “If Ursula goes to Montevideo, it will be to show the EU’s commitment to concluding the deal, but it will not be signed,” said one European diplomat.
The potential trade agreement promises to strengthen economic ties between South America and Europe, boosting trade in key sectors like agriculture and manufacturing. As negotiations continue, the world watches eagerly to see if this long-awaited deal will finally come to fruition.
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South American, EU negotiators race to close divisive trade deal
cgtn.com
