US EditionBrazil’s Lula Hails Historic EU-Mercosur Deal Ahead of No-Show at Its Signing
The agreement eliminates tariffs on over 90% of trade, linking 720 million people with a combined GDP exceeding $22 trillion, boosting agricultural exports and European goods.
- On Saturday, Brazilian President Luiz Inacio Lula da Silva will not travel to Asuncion for the ceremonial signing, and Foreign Minister Mauro Vieira will represent Brazil.
- Originally planned as a ministerial signing, the ceremony was upgraded at short notice by Paraguay, and experts say Lula's absence reflects disappointment over the missed deal during Brazil's Mercosur presidency.
- Presidents from Argentina, Paraguay and Uruguay are expected at the ceremony in Asuncion, with Paraguay's Santiago Peña, Uruguay's Yamandú Orsi, European Commission President Ursula von der Leyen, European Council head António Costa, and special guests Panama and Bolivia attending.
- Lula's absence has prompted criticism from some regional partners, exposing diplomatic strains within Mercosur as senior Argentine government officials told La Nacion he `set up a parallel summit a day earlier`.
- The accord would create one of the world's largest free-trade areas, covering about 720 million people with a GDP of over $22 trillion, but still faces opposition from European farmers and about 150 members of the European Parliament.
156 Articles
156 Articles
With the implementation of the Mercosur agreement, South American meats will enter the European food chain. Should we worry about quality, prices and transparency in our dishes? In the...
One of the largest free trade areas in the world is emerging: representatives of the EU and the South American Mercosur countries Brazil, Argentina, Uruguay and Paraguay sign the agreement between the two economic blocs in Asunción. This is preceded by 25 years of negotiations.
Historic EU-Mercosur Trade Deal Sealed
Historic EU-Mercosur Trade Deal Sealed The European Union and Mercosur have inked a groundbreaking free trade agreement, culminating 25 years of intense negotiation. Signed in Paraguay, the deal paves the way for the EU's largest trade accord ever.The agreement now faces scrutiny in Europe, particularly requiring the European Parliament's consent. Debates are expected as the deal has been contentious in several quarters.Conversely, ratification …
Santiago Peña thanked the Brazilian president for his work, who was not present in Asunción.Argentine was the only one who did not applaud.
The agreement phases out tariffs between EU countries and Argentina, Brazil, Paraguay and Uruguay over a number of years.
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