Mercosur/EU Trade Deal: “Time is Pressing” Cautions Uruguay

RIO DE JANEIRO, BRAZIL – Foreign Minister Bustillo leaves this week for Spain and several European countries, as preparation for next month’s Mercosur summit, under the presidency of Uruguay. Finalizing the Mercosur/European Union trade agreement is the focus of the trip.

Bustillo is also expected to participate in the virtual summit of EU foreign ministers to be held in Andorra, November 30th. The meeting comes ahead of the XXVIII Ibero-American Summit, which was scheduled for this year but because of the pandemic has been postponed until April 2021.

Uruguay is the current rotating chair of Mercosur since last July and will hand the post in December to Argentina. Uruguay, Brazil, and Paraguay are most interested in having the Mercosur/European Union free trade deal passed by the legislatures of both blocks.

Minister Bustillo flies from Spain to Moscow on December 2nd and then to Brussels until December 6th, before travelling to Paris. After France the minister is scheduled to spend a couple of days in Berlin, from where he will travel by train to Amsterdam. On his return to Montevideo, Bustillo will spend a few days in quarantine, in time for the Mercosur presidential summit scheduled for mid-December.

The Mercosur/EU trade deal is in the last phase of negotiations and Bustillo recently said at an EU investment forum held in Montevideo, that most countries agree and are willing to begin implementing the deal. However he admits some delays.

“Mercosur and the European Union must concentrate all efforts in rounding up some of the issues still pending, but given the significance of the accord and thinking in the international credibility of both blocks, it is pressing to have it approved by member countries. However said this, Uruguay is most respectful of the domestic debates regarding the deal, but again time is pressing.”

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