Mercosur-EU deal could be closed this year

The executive secretary of the Brazilian Ministry of Development, Industry, Trade and Services, Márcio Elias, said today (23) that the federal government intends to close the free trade agreement between Mercosur and the European Union this year.

In an interview in Lisbon, where he accompanies President Luiz Inácio Lula da Silva’s entourage, Elias said Brazil intends to close the agreement in the first half of the year.

“The expectation is that the agreement will be closed this year as soon as possible. If possible, we would close it this semester, as is our wish”, he said.

According to the secretary, the Brazilian government remains in contact with European authorities to unlock the requirements that the country and the other bloc members must meet.

Elias also said that the obstacles are related to environmental requirements and labor legislation, which are already fulfilled by Brazil, but need the approval of other countries to count in the clauses of the trade agreement.

“We are very close, but for this, we need to think globally. We have several issues that need to be addressed. None of them is insurmountable.”

“That is why President Lula has been saying that we will close the agreement”, he added.

With information from TV Brasil

For the full picture, see our Mercosur EU Trade Deal: Complete Guide.

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