FOZ DO IGUAÇU, Brazil, Dec 20 (AFP): Representatives of the South American Mercosur bloc met in Brazil Friday, as EU diplomatic sources said along-delayed trade deal may now be signed on January 12.
Argentina, Brazil, Paraguay and Uruguay had hoped they would on Saturdayfinally seal a deal with the EU to create the world's largest free trade zone.
However, the deal, which has been under negotiation for more than 25 years, met with fierce opposition from farmers, notably in France and Italy, and has now been postponed to January.
Several diplomats in Brussels told AFP the EU was working towards a signature on January 12 in Paraguay, which is set to take over leadership of Mercosur from Brazil in 2026.
European Commission chief Ursula von der Leyen said she was confident there would be a "sufficient majority" among the EU's 27 countries to approve the deal next month.
Paraguay's Foreign Minister Ruben Ramirez, following a meeting with his counterparts from Mercosur bloc countries on Friday, said they wanted to move forward on the deal "understanding that Europe has its own deadlines to address internal institutional matters."
"But at the same time, these deadlines are not infinite," he added.
The trade deal would help the European Union export more vehicles, machinery, wines and spirits to Latin America.
© 2025 - All Rights with The Financial Express
