Banca March| In line with international trade, the South American countries are pushing to speed up the signing of a treaty that has been dragging on for twenty years of negotiations and four years of delay since the 2019 agreement was made. The justification for the wait is due to the environmental commitments that European countries are demanding from South American countries. If the signing does not take place on 6 December, the countries that make up MERCOSUR are threatening to negotiate with Asia instead. The pact in question would have a considerable impact on world trade by eliminating numerous tariff barriers and liberalising imports from both blocs by more than 90 per cent.
Mercosur gives EU ultimatum to ratify pact between the two economic blocs
