The four founding members of the Mercosur trade bloc are united in their goal to finalize the long-delayed free-trade agreement with the European Union, according to reports. As the two-day summit in Montevideo began Thursday, leaders from Brazil, Argentina, Uruguay, and Paraguay expressed a strong desire to conclude negotiations quickly.
Reports indicated that the leaders of the Mercosur nations were eager to wrap up the deal, signaling their commitment to completing the agreement after years of negotiations. This new momentum comes as the summit gathers attention ahead of critical discussions.
European Commission President Ursula von der Leyen traveled to Montevideo despite renewed criticism of the deal from Italy and France. She reiterated her belief that the free-trade agreement between the EU and Mercosur was close to being finalized, but challenges remained.
Uruguay is hosting the 65th Mercosur summit this Thursday and Friday, as it holds the presidency of the South American trade bloc. Von der Leyen joined the summit to support the efforts of the four countries aiming to establish one of the largest free-trade zones in the world.
Despite her optimism, von der Leyen’s hopes of sealing the deal this week seemed uncertain. Italian government sources suggested that the “conditions are not in place” for Rome to sign the deal, raising concerns that opposition within Europe could delay the agreement even further.
