The President of Uruguay, Luis Lacalle Pou, has shared a cautiously optimistic outlook concerning the ratification of the trade agreement between the Southern Common Market (Mercosur) and the European Union (EU).
This statement came after his participation in the III EU-Community of Latin American and Caribbean States (CELAC) Summit held in Brussels.
Lacalle Pou emphasized that progress on the agreement, under negotiation for 25 years, would now depend on the actions beyond speeches and words.
He suggested focusing more on the trade aspects could expedite the process, which would be a favorable outcome for Uruguay.
However, he acknowledged the complexity of political and environmental issues that intersect with this agreement.
The Mercosur-EU agreement was initially reached on June 28, 2019, after two decades of negotiations, but the final ratification is still pending from both parties.
For the full picture, see our Mercosur EU Trade Deal: Complete Guide.