The long-awaited trade deal between EU and four South-American nations has reached its final stage in early dec-2024. Brazil‚ Argentina‚ Paraguay and Uruguay - the founding members of Mercosur trade bloc worked out last details with European officials in montevideo
The deals implementation faces some road-blocks: while South-American countries just need their parliaments approval‚ EU has a more complex path ahead. The core trade part might get a fast-track treatment (requiring support from 15 EU countries that make up 65% of EU population); however some parts need all 27 members to agree
- France leads the opposition group
- Germany and Spain support the deal
- Nine more EU countries back the agreement
- Austria‚ Poland‚ and Netherlands might join French resistance
The partnership covers a huge market of 700+ million people and could cut about 4-billion euros in yearly tariffs. EU car makers and manufacturers will get better access to South-American markets; while local farmers can sell more meat and grain products to europe
The deal had its ups-and-downs since the first version came out about 5 years ago. Environmental worries (specially about amazon rainforest) caused delays but recent talks in brasilia fixed these issues. Now both sides agreed on rules about nature protection and government buying