The European Commission has said it is a priority to conclude a long-delayed trade deal with South America’s Mercosur bloc, as the EU seeks new allies to reduce its dependence on China and the United States, according to a document seen by Reuters. An EU-Mercosur trade pact was agreed in principle in 2019 but is still waiting to be ratified in the parliaments of those countries involved. Latin America and Europe should work on reducing “excessive dependency” on third countries, it adds. Many of the deals would build on an EU programme to invest in green and digital transition projects in Latin America which is due to be approved at a July 17-18 summit between the Community of Latin America and Caribbean States (CELAC) and the EU, the first since 2015. Negotiations are most advanced with Chile and Argentina, and a deal could be announced as early as July, according to the European diplomatic sources.

Source: Bueno Aires Herald June 05, 2023 20:41 UTC