- cross-posted to:
- business@lemmy.world
- cross-posted to:
- business@lemmy.world
cross-posted from: https://lemmy.world/post/20199784
UNITED NATIONS, Sept 25 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Wednesday he is ready to sign a trade agreement between the European Union and South America’s Mercosur bloc, but that it is now up to the EU to conclude negotiations.
Speaking on the sidelines of the U.N. General Assembly, Lula said his country was surprising investors and credit rating agencies with stronger than expected growth, and offering new stability now that tax reform has advanced in Congress.
“If the EU is ready we can sign the trade agreement during the G20 meeting in Brazil,” he told reporters, referring to the Group of 20 rich nations summit in Rio de Janeiro in November.
“I have never been so optimistic about the EU-Mercosur accord,” the Brazilian leader added.
A European diplomatic source said there had been progress towards resolving differences at a face-to-face meeting of negotiators in Brasilia on Sept 5-6.
Given the historical record on attempts at Mercosur-EU trade deals, this is likely to fail yet again, since the EU’s agricultural voting bloc (mostly in France and Italy) doesn’t really want the market to be populated by cheaper products from abroad (at least not any more than it already is). But at this point, given the several ongoing food crises that Russia’s invasion of Ukraine caused, the chances for a successful agreement are about as high as they can go, so they might as well go for it.