The European Commission, the European Union’s executive arm, validated the trade agreement with Mercosur countries and promised solid guarantees to protect the agricultural sector. The text still needs to be voted by the European Parliament and approved by 15 of the 35 countries that make up the committee, representing 65% of the bloc’s population.
The treaty would overthrow customs barriers over the coming years, facilitating trade exchange between the blocks. It was 25 years of negotiations between the two groups for an agreement to be guaranteed.
Europeans represent almost 17% of the South American bloc trade, especially the purchase of agricultural and mineral products.
the block proposed to limit imports of some agricultural products, such as beef. This would happen if the entry of foreign products grew 10%, or prices in the European block fell at the same level. A $ 7.38 billion fund has also been included.
Despite the relief from France, the Poles – which are strong exporters of agriculture products – still criticize the agreement,
“Poland will oppose Mercosur because we really want to ensure, or at least demonstrate that we will not give in when it comes to the interests of Polish farmers,” said Tusk.
besides reducing dependence on China. Maros Sefcovic, the bloc’s commerce commissioner, said the treaty is a strategic instrument that can help “shape Europe’s role in the global economy in the coming decades.”
The Brazilian government celebrated the progress of the text. Vice President and Minister of Industry, Geraldo Alckmin (PSB), said the validation of the treaty is a decisive step for investments between the regions.
“It would be good news for the world that Mercosur and the EU come together around a common development project,” Haddad concluded.
