Latin America Advisor
Latin America Advisor
A Publication of The Dialogue
Can Mercosur and the E.U. Agree on a Free Trade Deal?
The potential trade accord between South America’s Mercosur trade bloc and the European Union is a “very bad deal,” French President Emmanuel Macron said last month in Brazil. // File Photo: French Government.
A potential trade deal under discussion between the European Union and South America’s Mercosur trade bloc is a “very bad deal,” French President Emmanuel Macron told business executives March 27 in São Paulo. The proposed deal lacks proper climate and biodiversity considerations, said Macron. The French president said he opposes any agreement that does not require South American producers to adhere to the same environmental and health standards followed by Europeans. What lies ahead for the Mercosur agreement? How likely are leaders to go back to the drawing board to “rebuild” the agreement as Macron suggests? What types of environmental regulations would need to be added in order for France to sign, and would Latin Americans be against them?
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Cecília Godoy, analyst at FrontierView: “President Emmanuel Macron’s recent statements against the free trade agreement between Mercosur and the European Union highlight the challenging political timing for concluding the FTA negotiations after more than two decades of talks. In truth, the second half of 2023—when Brazil and Spain held the presidency of their respective trade blocs—represented the best strategic opportunity to bring this E.U.-Mercosur partnership over the finish line. In 2024, the European parliamentary elections in June will limit the political calendar for ratification, and Paraguay’s assumption of the Mercosur leadership—following its statement that it would deprioritize talks with the European Union if an agreement had not been reached by the end of last year—signals stalling momentum. Notably…”
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The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
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