The European Union decides to temporarily implement the trade agreement with… "Mercosur"
BRUSSELS, 27 FEBRUARY, WAM / Ursula von der Leyen, President of the European Commission, announced that the European Union has decided to proceed with the temporary implementation of the free trade agreement with the Mercosur group, after Uruguay and Argentina ratified the agreement, while Brazil and Paraguay are expected to join them soon.
Von der Leyen said in a press statement today, Friday: “I said previously that when they are ready, we are ready,” repeating what she said during the European summit last December when the member states agreed to move forward with the deal.
This decision comes despite widespread opposition from farmers in a number of European countries, and after the European Parliament voted on January 21 to refer the agreement to the European Court of Justice to ensure its compatibility with European treaties, a step that may suspend final ratification for up to two years. However, the European Union reserves the right to implement the agreement temporarily during that period.
The agreement, which took about 25 years of negotiations to reach, represents one of the largest free trade areas in the world, as it covers about 30% of the global gross domestic product and includes more than 700 million consumers. It allows the European Union to increase its exports of cars and machinery, in exchange for facilitating the entry of meat, poultry, sugar, rice, honey, and soybean products from South American countries to European markets.
Opponents of the agreement fear that it will lead to the flooding of European markets with lower-priced agricultural products that may not meet the European Union’s environmental and food standards, while its supporters believe that it will strengthen the European economy in the face of Chinese competition and American customs duties.
France and Poland strongly object to the agreement, while Belgium abstained from voting, at a time when Brussels and several European capitals witnessed widespread protests by farmers who rejected the deal.
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