The FINANCIAL — During the sixth round of negotiations of the EU-MERCOSUR Free Trade Agreement (FTA) business representatives on both sides of the Atlantic confirmed once again their strong support for an ambitious FTA between the European Union and MERCOSUR.
The lead negotiators, Joao Aguiar Machado on behalf of the EU and Alvaro Ons of Uruguay on behalf of MERCOSUR met with business representatives of BUSINESSEUROPE, EUROCHAMBRES, Brazilian Business Affairs and the MERCOSUR-EU Business Forum in Brussels to discuss the state of the negotiations. Business representatives welcomed the progress achieved so far in the regulatory area but urged the lead negotiators to proceed to an exchange of offers as soon as possible. There is a risk that further delays will sap business confidence in the EU-MERCOSUR FTA which was launched with the aim to be concluded rapidly.
Businesses continue to argue strongly that the FTA will stimulate much needed growth in EU countries and ensure faster growth in MERCOSUR countries. If ambitious and balanced, the agreement would create tens of thousands of jobs and billions of Euro of additional trade and investment over the next few years in both regions. A rapid and successful conclusion of the EU-MERCOSUR FTA will reduce uncertainty for companies and investors.
The EU is currently MERCOSUR’s largest trading partner representing 20.7% of MERCOSUR trade as well as the largest investor in the region with a total of €165 billion investment. With fast growing trade in goods, services, agricultural products and increasing investments, the EU and MERCOSUR stand to gain tremendously from an ambitious agreement.
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