a market of 700 million individuals | EUROtoday

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BRUSSELS – The historic partnership settlement between the European Union and Mercosur was lastly signed in Assumption, the capital of Paraguay, after years of bilateral negotiations and weeks of European push and pull. Beyond the need to advertise relations between the 2 blocs, the settlement which the truth is creates a brand new market of over 700 million individuals is meant to be a response to the unilateral and protectionist American overseas coverage. Our gaze now turns to Strasbourg the place the European Parliament should give its long-awaited approval.

«This is way more than a commerce settlement – ​​stated the President of the European Commission Ursula von der Leyen -. Today we display to the world that we’re in favor of dialogue, cooperation and mutual profit. In the financial, environmental and geopolitical fields.” The President of the European Council António Costa added yesterday from Assumption: «Our agreement does not create spheres of influence, but spheres of shared prosperity».

The representatives of Mercosur (Brazil, Paraguay, Uruguay and Argentina) spoke in the same spirit. The Brazilian Minister of Foreign Affairs Mauro Vieira criticized “unpredictability”, “protectionism” and “coercion”, in a clear reference to the Trump administration. The only one to distance himself in some way was the Argentine president Javier Milei who hailed the recent fall into American hands of the Venezuelan president Nicolás Maduro – as well as thanking the Italian Prime Minister Giorgia Meloni for her mediation role in the final phase of the negotiations.

The signature got here after ultimate hesitations on the a part of the Twenty-Seven (six international locations most popular to not approve the settlement). Guarantees have been adopted specifically within the agricultural sector (see Il Sole/24 Ore of 8 January). The treaty ought to stimulate relations between the 2 blocs. Today, Mercosur international locations are likely to commerce with Brazil, the area’s superpower. With the digital abolition of duties with the European Union, member international locations will turn out to be new privileged companions.