An EU spokeswoman stated on Monday that the European Commission is set to present EU states with the final legal version of a trade deal with South American nations “in the coming days.”
After twenty-five years of negotiations, Brussels finalized an agreement with Mercosur bloc members Argentina, Brazil, Paraguay, and Uruguay in December of the previous year, establishing a free-trade area encompassing 700 million customers. However, it remains necessary for member states and the EU Parliament to provide their signatures.
France has expressed concerns regarding the ratification of the agreement, citing apprehensions that an influx of less expensive agricultural products could undermine the competitiveness of European farmers. This stance is supported by highlighting the disparities in environmental regulations between the EU and Mercosur nations.
Chief commission spokeswoman Paula Pinho indicated that the deal was “well advanced, so we could have some news in the coming days.” Upon submission, “it will be a good opportunity for member states to exchange, dialogue, negotiate, and make their positions known,” stated EU spokesman Thomas Regnier to reporters in Brussels.