The European Union (EU) and Mercosur recently confirmed their commitment to finalize an association agreement by the end of 2023, during a summit in Brussels.
This information came from a statement issued by the European Commission after a meeting that included representatives from both sides.
The officials present at the meeting emphasized that the agreement is a crucial step towards a stronger political and trade partnership and a relationship focused on sustainable development.
It aims to reinforce reliable, sustainable, and resilient regional and bi-regional value chains, enhance the competitiveness of industries in both regions and create opportunities for small and medium-sized enterprises (SMEs) and vulnerable societal segments.
Concerns from France and Ireland over the potential impact of meat imports on their livestock farmers, and demands for greater climate change action, have previously stalled ratification of the agreement.
The German Chancellor, Olaf Scholz, expressed optimism about reaching a mutual agreement soon, while the Brazilian President, Luiz Inácio Lula da Silva, argued that environmental protection should not be used as a cover for protectionism.
He emphasized that protecting the Amazon rainforest is a collective responsibility.
For the full picture, see our Mercosur EU Trade Deal: Complete Guide.