European Union in favour of closing Mercosur agreement by end of year


BancaMarch: The European Union is in favour of concluding the agreement with Mercosur before the end of the year. The President of the European Commission, Ursula von der Leyen, defended on Monday before the President of Brazil, Luiz Inácio Lula da Silva, the need to close the trade agreement between the European Union and Mercosur before the end of the year. Doing so would thus conclude a pact that has been under negotiation for decades and that is pending an annex to strengthen environmental guarantees, in particular on deforestation. Von der Leyen argues that there will be “great advantages” for both parties, among them the greater flow of investment, and that it will also have a positive impact on the competitiveness of Brazilian industry and job creation. Lula da Silva, for his part, has expressed his country’s concern over the text presented, which proposes sanctions against the country in the event of non-compliance on environmental issues.

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