Significant Progress Made in EU-Mercosur Trade Negotiations

Recent trade talks between the European Union and South American nations have made significant strides on key contentious issues. These discussions mark the first in-person negotiations since April, with hopes of finalizing the long-delayed EU-Mercosur agreement. Both sides aim to conclude by the year's end.

European Union and South American negotiators concluded two days of trade talks on Friday, reporting 'significant progress' on several contentious issues that have delayed the EU-Mercosur agreement, according to sources close to the negotiations. These in-person discussions, the first since April, now set a positive trajectory toward a possible year-end conclusion.

'The round of negotiations went very well with significant progress made in the areas of the environment and government procurement,' said an official from the Brazilian foreign ministry, where the talks took place. 'A new round of negotiations should occur in a few weeks.'

Earlier this week, eleven EU governments urged a rapid conclusion to the trade deal that's been 25 years in the making. In a letter to European Commission President Ursula von der Leyen, the prime ministers of multiple European nations emphasized the urgency of securing the progress made and closing the negotiations by the end of 2024.

(With inputs from agencies.)