Mercosur's New Trade Frontiers

Brazil anticipates accelerating free trade talks within Mercosur following a deal with Europe, amid looming U.S. tariffs under Trump. New trade agreements with EFTA and UAE are priorities. Despite internal challenges, Mercosur is navigating opportunities to diversify trade relations globally.

Brazil is calling on the Mercosur trade bloc to expedite free trade negotiations following a landmark deal with the European Union. With the specter of U.S. tariffs under Donald Trump, countries are urged to expand their export options, anonymous diplomats report.

Pivotal on Mercosur's agenda is a proposed trade agreement with the European Free Trade Association (EFTA), comprising four non-EU nations, and the United Arab Emirates. Notably, Norway, an EFTA member, is eager to finalize a pact by mid-2025, according to Trade Minister Cecilie Myrseth.

In parallel, Singapore has reached an accord with Mercosur pending ratification. This momentum presents the trade bloc, which includes Brazil, Argentina, Uruguay, and Paraguay, as a robust platform for fostering global trade links amid rising protectionist tides.

(With inputs from agencies.)