Lula's Pledge: EU-Mercosur Trade Deal by Year's End

Brazilian President Luiz Inacio Lula da Silva expressed optimism for finalizing a trade deal between the EU and the Mercosur bloc by year-end. Despite French opposition, negotiations progress with European Commission President Ursula von der Leyen leading efforts. The deal addresses EU demands on environmental issues.

In a determined push for economic collaboration, Brazilian President Luiz Inacio Lula da Silva affirmed his commitment to finalizing a trade agreement between the European Union and the Mercosur bloc by the close of the year. His statement came during an event hosted by the industry group CNI in Brasilia, where he confidently dismissed opposition primarily stemming from France.

Lula emphasized ongoing negotiations with European Commission President Ursula von der Leyen, who holds the authority to conclude the deal. 'We will get it done,' Lula declared, underscoring his intention to sign the agreement within this year.

The long-sought trade pact involves countries in the Mercosur alliance—Brazil, Argentina, Uruguay, Paraguay, and Bolivia. While the deal could boost EU manufacturing exports, it has sparked concerns among European farmers, particularly in France, over increased competition. The agreement remains contingent on satisfying EU demands related to Amazonian deforestation and climate change issues.

(With inputs from agencies.)