Rio de janeiro: European Commission President Ursula von der Leyen announced that the trade agreement between the European Union and the Mercosur bloc represents a strategic step toward strengthening economic prosperity and supporting multilateralism.
According to Kuwait News Agency, this agreement highlights the significance of partnership and openness between regions, while underscoring the EU's commitment to a rules-based international order and collective cooperation.
The deal, reached in Brussels last week after 25 years of negotiations, encompasses over 90 percent of bilateral trade between the European Union and the Mercosur countries, which include Argentina, Brazil, Paraguay, and Uruguay. Together, these regions account for approximately 30 percent of global GDP and encompass more than 700 million consumers. Von der Leyen emphasized that the agreement sends a "powerful message" that partnership and openness are crucial for creating real and shared prosperity, reinforcing the European Union's position as the world's largest market and free trade area.
During her meeting with Brazilian President Luiz Inacio Lula da Silva, von der Leyen praised Lula's leadership role in the final stages of the negotiations, highlighting his commitment to shared values such as democracy, respect for the environment, and a rules-based international order. The agreement is expected to open broad horizons for investment and supply chains, providing clear and predictable rules to enhance jobs and income on both sides of the Atlantic.
Von der Leyen also welcomed progress toward a parallel political agreement between the European Union and Brazil on critical raw materials, supporting Europe's digital and green transitions, and strengthening the EU's strategic autonomy. The agreement aims to adhere to the highest standards of transparency and environmental protection while ensuring benefits for local communities. She stressed that signing the agreement marks only a first step, with its true success to be realized when citizens and businesses can experience its benefits within the framework of a renewed strategic partnership between the European Union and Brazil.