Brazil chancellor working to settle pending issues in Mercosur–EU deal

Brazil’s Foreign Ministry is working to settle the pending issues hindering the formalization of the free trade deal between Mercosur and the European Union (EU), Foreign Minister Carlos França declared today (Oct. 26). Expanding commercial agreements is among the government’s priorities, he declared.

The chancellor spoke at the launch ceremony of the legislative agenda of the Parliamentary Front for International Trade and Investment (FrenComex), held at the Itamaraty Palace, seat of Brazil’s Foreign Ministry. Signed in 2019, the Mercosur–EU agreement must be approved by the Parliaments of the countries in both blocs before becoming effective. Environmental and climate issues, however, have blocked its progress.

“The challenges are complex, but Brazilian diplomacy is attentive and will have to remain so,” França stated. The Middle East and the countries in Southern and Eastern Asia are Brazil’s priorities in its search for trade deals, he added.

Brazil’s foreign minister advocated the modernization of the Brazilian state through its entry into the Organization for Economic Cooperation and Development (OECD) and its agenda of privatizations. In his view, Brazil can diversify exports without leaving commodities aside.

“There’s room for the diversification of the export agenda without neglecting our strategy for commodity exports, expanding the export of services and industrialized goods,” he said.

Axes

In a note, FrenComex reported that the agenda of the parliamentary front for the next two years encompasses five axes: a facilitated business environment for foreign investors, the negotiation of trade deals, improved export logistics, foreign commerce operations free of red tape, and policies for boosting exports.