EU and Mercosur Revive Trade Talks with Hope for Year-End Agreement

Negotiators from the European Union and South America will meet in Brasilia from September 4-6 to revive talks on an EU-Mercosur trade deal. The two-decade-long negotiations have faced delays due to environmental concerns and protectionist complaints. Hopes are high for a year-end conclusion.

Negotiators from the European Union and South America are set to reconvene in Brasilia from September 4-6 in an effort to revive the stalled EU-Mercosur trade deal. Diplomatic sources are optimistic about finalizing the agreement by year-end, a goal committed to by EU Commission President Ursula von der Leyen and Brazilian President Luiz Inacio Lula da Silva.

The trade deal, plagued by delays stemming from European environmental safeguard concerns and accusations of protectionism by the Mercosur bloc, seeks to open markets for companies on both continents. Uruguay's foreign ministry has confirmed that negotiations are proceeding smoothly, though Argentina and Paraguay have yet to comment.

Challenges remain, including European protection of food product names and Brazilian opposition to an impending EU anti-deforestation law. Still, with Uruguay's international relations scholar Ignacio Bartesaghi noting the EU as the main driver, optimism persists for a timely resolution.

(With inputs from agencies.)