A Brazilian expert foresees that the Free Trade Agreement (FTA) between the Southern Common Market (Mercosur) and the European Union (EU) will represent a 5.1% increase in commerce with the bloc that is already South America's largest country's second-largest partner, behind China, Agencia Brasil reported. These projections would mean a 0.34% rise in the Gross Domestic Product (GDP), the sum of goods and services produced in the country.
The implementation of the European Union Deforestation Regulation bill has been postponed until the end of 2025, following a provisional political agreement this week, between the European Parliament and the European Council.
The Southern Common Market (Mercosur) hopes to clinch the Free Trade Agreement (FTA) with the European Union (EU) during the two-day regional bloc's Summit starting Thursday in Montevideo with European Commission President Ursula von der Leyen as the main guest.
France's Parliament was unusually united this week in rejecting the Free Trade Agreement (FTA) between the European Union (EU) and the Southern Common Market (Mercosur), thus yielding to protests from local farmers who fear unfair competition. The Senate gave its thumbs down Thursday, just one day after the Lower House did the same by 484 votes against 70.
Brazil's Lower House Speaker Arthur Lira spoke Monday against Europe's protectionism, particularly that of France, and announced that a bill would be voted on this week providing for economic reciprocity. If approved, the Brazilian government would be prevented from signing any international agreements with clauses restricting the import of Brazilian products unless the signatory countries adopt equivalent environmental protection measures.
France will not be signing a Free Trade Agreement (FTA) between the European Union and the Southern Common Market (Mercosur), the Russian news service Sputnik reported Thursday. In fact, Paris will do its utmost to block it.
French Agriculture minister, Annie Genevard has declared to her country’s media that Paris is trying to convince “maximum number of countries”, such as Belgium, Bulgaria, Austria, Ireland and “even maybe Italy” to set up a veto system to impede the signing of a trade agreement between the European Union and Mercosur, the South American trade group.
Italy's Deputy Prime Minister and top diplomat Antonio Tajani told a group of Brazilian businesspeople in Sao Paulo Wednesday that his country was facing a great opportunity to strengthen its economic and commercial presence in Latin America, particularly through the EU-Mercosur free trade agreement that is still pending ratification.
The European Union's High Representative for Foreign Affairs and Security Policy Josep Borrell highlighted Monday that Venezuela was up for some serious crisis should Caracas continue not to produce the minutes of the July 28 polls which the National Electoral Council (CNE) said favored incumbent President Nicolás Maduro Moros.
The European Union (EU) pointed out Sunday that the results announced by Venezuela's National Electoral Council (CNE) granting victory to the incumbent Nicolás Maduro cannot be recognized given the lack of documentation supporting it, due to which a greater independent verification of the electoral records was needed.