EU and Mercosur Close to Finalizing 25-Year Trade Deal Amid French Opposition

Dec 5, 2024, 01:05 PM

Negotiators from the Mercosur trade bloc and the European Union are working to finalize a historic trade agreement during the 65th Mercosur Summit in Montevideo, Uruguay. After 25 years of negotiations, the deal is closer to completion, with European Commission President Ursula von der Leyen attending the summit to signal the EU's commitment. Von der Leyen, who met with Uruguayan President Luis Lacalle Pou, stated that 'the conclusion of the Mercosur-EU agreement is in sight,' describing it as 'the largest partnership the world has ever seen.' Despite opposition from France, with President Emmanuel Macron attempting to block the agreement, the Mercosur countries—Argentina, Brazil, Paraguay, Uruguay, and associate member Bolivia—have expressed unanimous support for the deal. Brazilian Foreign Minister Mauro Vieira noted that Bolivia is participating in the Common Market Council as a state party for the first time, marking the 30th anniversary of the Protocol of Ouro Preto, which established Mercosur's institutional structure. The summit also marks the transition of Mercosur's pro tempore presidency from Uruguay to Argentina.