Brazilian and Italian Presidents Urge Quick Completion of Mercosur-EU Trade Agreement
Brazil’s President Luiz Inácio Lula da Silva and Italian President Sergio Mattarella have emphasized the importance of swiftly reaching a definitive trade agreement between Mercosur and the European Union. The two presidents made their comments following a meeting at the Planalto Palace in Brasilia.
Regional Cooperation Crucial for Global Peace
The Italian president highlighted the significance of quickly reaching a historic decision between the two major continental integration bodies, Mercosur and the European Union. He stated that the network of collaborations between continental integrations is an essential element in guaranteeing and promoting world peace.
Decades-Long Negotiation
The two blocs have been negotiating a free trade agreement for over two decades, with the goal of eliminating most tariffs between the two regions, creating a trading space for more than 700 million consumers. The agreement has faced resistance from some European countries, particularly France, due to concerns over competition from South American agricultural products.
Potential Trade Impact
Brazilian President Lula da Silva expressed concerns that measures such as the carbon tariff imposed by the European Union could negatively affect five of the top ten Brazilian products exported to the Italian market.
Multiple Issues Discussed
During their meeting, the two leaders also discussed various global issues, including the wars in Ukraine and Gaza, the energy transition, and the fight against hunger. Mattarella is scheduled to visit several cities in Brazil, including Salvador, São Paulo, Rio de Janeiro, and Rio Grande do Sul, until Friday.
Historic Italian Immigration in Brazil
The visit is taking place in commemoration of the 150th anniversary of Italian immigration in Brazil, where the country hosts the largest Italian community abroad, with over 35 million Italian descendants living in its territory.