The President of the EU Commission, Ursula von der Leyen, is on site in Uruguay to participate when the countries in the economic cooperation Mercosur hold a summit meeting on Friday.
Her goal: to finally reach the finish line in the 25-year-old negotiations on a free trade agreement.
"Landed in Latin America. The finish line for the EU-Mercosur agreement is in sight. Let's work, let's cross it. We have an opportunity to create a market with 700 million people", von der Leyen writes on X.
The EU reached a preliminary agreement with the Mercosur countries Brazil, Argentina, Uruguay, and Paraguay in 2019. Several individual EU countries - primarily France - are, however, strongly critical of the agreement.
Sweden, on the other hand, is one of the strongest supporters behind the agreement.
It is important for Swedish export but also import, regarding critical raw materials and other things. It is time to sign and get down to business now, said Foreign Trade Minister Benjamin Dousa (M) on his way into an EU trade minister meeting in Brussels two weeks ago.
The EU and the countries in the South American trade bloc Mercosur have been negotiating a free trade agreement since the end of the 1990s.
According to a principle agreement from 2019, the agreement would mean removed or significantly reduced tariffs for, among other things, European cars, car parts, machines, and chemicals. In exchange, Mercosur would get, for example, a quota system for the export of meat, ethanol, and sugar to the EU.
After prolonged legal reviews and amendment requests, the EU Commission hopes for a political agreement at a meeting in Uruguay in early December. However, for the agreement to come into full force, approval is required from both the EU Parliament and the EU member states.
Mercosur includes Argentina, Brazil, Paraguay, Uruguay, and since last summer also Bolivia. Venezuela is also a member, but has been suspended since 2016.
