Trade agreement between Mercosur and the European Union nears a conclusion

Segunda, 10 de Junho de 2019


Initiated over twenty years ago, the negotiation of a free trade agreement between the Mercosur and the European Union appears to be nearing a conclusion. In an official visit to Buenos Aires (Argentina) on June 6th, the Brazilian president Jair Bolsonaro stated that the two Latin American governments are expected to sign the agreement as soon as July – the next month[1]. The negotiations saw significant progress in the last months after the Brazilian government changed its position in matters, such as cabotage, after the country’s change in government[2].

The country’s main goal for the agreement is to increase market access of Brazilian products abroad and to increase the insertion of European capital goods, raw materials, and European consumables into the Brazilian economy. According to the Brazilian president, the negotiations still need to address matters, such as those involving wine and dairy products, but these are not expected to cause significant hindrances to the discussions, which are anticipated to be concluded in the near future[3].

 

[1] Agência Brasil, “Falta pouco para acordo Mercosul-União Europeia, diz Bolsonaro”, June 6, 2019. Available at http://agenciabrasil.ebc.com.br/politica/noticia/2019-06/falta-pouco-para-acordo-mercosul-uniao-europeia-diz-bolsonaro
[2] O Globo, “Acordo entre Mercosul e União Europeia deve ser assinado em julho, prevê governo brasileiro”, May 27, 2019. Available at: https://oglobo.globo.com/mundo/acordo-entre-mercosul-uniao-europeia-deve-ser-assinado-em-julho-preve-governo-brasileiro-23695468
[3] O Globo, “Mercosul deverá fechar acordo de livre comércio com União Europeia em até um mês, diz Guedes”, June 6, 2019. Available at: https://oglobo.globo.com/mundo/mercosul-devera-fechar-acordo-de-livre-comercio-com-uniao-europeia-em-ate-um-mes-diz-guedes-23721822