MONTEVIDEO/BRUSSELS, Sept 4 (NNN-MERCOPRESS) — The European Commission has validated the free trade agreement (FTA) between the European Union (EU) and the Southern Common Market (Mercosur), Uruguayan Foreign Minister Mario Lubetkin confirmed on Wednesday, calling it “excellent news” for his country.
The Uruguayan Government of President Yamandú Orsi expects the understanding to be ratified by December. The agreement with EFTA countries (Norway, Liechtenstein, Switzerland, and Iceland) is also set to be signed this month.
”The European Union Trade Commissioner announced today the start of what we hope will be the final ratification process for the Mercosur-European Union (EU) agreement,“ Lubetkin said in a TV interview. The evaluation process ”will not take long,“ and that EU member states and MEPs will ”ratify the agreement,“ he added.
”We are delighted that this final process has begun,“ he further noted while admitting he hoped the agreement would ”be ratified before December.“
EU officials, including President Ursula von der Leyen, believe the agreement will create new opportunities, lower tariffs, and boost exports for European companies in sectors like cars, machinery, and alcoholic beverages. In return, the EU would open its market to agricultural products from Mercosur, such as meat, sugar, and soybeans.
The FTA faces significant opposition, particularly from European agricultural unions and countries like France, Italy, and Poland, where rural sectors fear that an influx of South American produce could harm their local industries. The European Commission has, however, promised ”solid guarantees“ to shield the local activity and would intervene if needed.
The adoption by the European executive was the expected step before submitting this free trade agreement to the member states and MEPs in the coming months. Von der Leyen celebrated these developments, which she described as ”milestones.“
”European Union companies and the agri-food sector will benefit from lower tariffs and reduced costs. They will become stronger competitors globally,” she wrote on social media.
European Parliament Member (MEP) Juan Martín Rodríguez, who chairs the International Affairs Committee, said that it was “very good news” for Uruguay and for “the whole of Mercosur.” In his view, Von der Leyen’s trip to Montevideo for the Mercosur summit – much to France’s fury – “is beginning to bear fruit.”
Brussels wants to act quickly and hopes to reach an agreement with the 27 EU countries this semester, while Brazil’s Luiz Inácio Lula da Silva still holds Mercosur’s rotating presidency.
This FTA should allow the European Union to export more cars, machinery, and alcoholic beverages to Argentina, Brazil, Uruguay, and Paraguay. In return, it would facilitate the entry of South American meat, sugar, rice, honey, and soybeans, albeit at the risk of weakening certain European agricultural sectors.Argentine football jerseys
“The fight continues,” warned France’s main agricultural union, the FNSEA. French farmers see a threat to sectors such as beef, poultry, sugar, and ethanol. It had requested additional safeguard measures and environmental protection.
After translating the text into all official languages, the European Commission hopes to present the agreement to member states and the European Parliament in the coming months. — NNN-MERCOPRESS
