Finance
EU, Mercosur leaders react to free trade deal
Published by Global Banking & Finance Review®
Posted on December 6, 2024
3 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 6, 2024
3 min readLast updated: January 27, 2026
The EU and Mercosur have reached a trade deal after 20 years, promising economic growth despite facing European opposition.
(Reuters) - The European Union and South America's Mercosur bloc struck an agreement on a long-delayed free trade deal on Friday, though it faces a lengthy battle for approval in Europe, where there is stiff opposition from France.
Here are some comments from European and South American leaders:
EUROPEAN COMMISSION PRESIDENT URSULA VON DER LEYEN
"This is a win-win agreement, which will bring meaningful benefits to consumers and businesses, on both sides. We are focused on fairness and mutual benefit. We have listened to the concerns of our farmers and we acted on them. This agreement includes robust safeguards to protect your livelihoods."
EUROPEAN COUNCIL PRESIDENT ANTONIO COSTA
"It is a very important achievement. The Member States will now evaluate it and decide. Trade is good for Europe. It's good for competitiveness and jobs. It's good for our place in the world. It's good for our citizens."
BRAZILIAN PRESIDENT LUIZ INACIO LULA DA SILVA
"We are securing new markets for our exports and strengthening investment flows. Today we have a modern and balanced text, which recognizes Mercosur's environmental credentials and reinforces our commitment to the Paris Agreement."
FRENCH PRESIDENCY
"The draft agreement between the EU and Mercosur is unacceptable in its current form. We will continue to tirelessly defend our agricultural sovereignty."
ARGENTINE PRESIDENT JAVIER MILEI
"While neighbors like Chile and Peru opened up to the world and entered into trade agreements with the protagonists of global trade, we locked ourselves in our own fish bowl, taking more than 20 years to close an agreement that we celebrate today... We cannot let commercial opportunities pass by."
SPANISH PRIME MINISTER PEDRO SANCHEZ
"Spain will work to ensure that this agreement is approved at the Council, because trade openness with our Latin American friends will make us all more prosperous and resilient."
GERMAN CHANCELLOR OLAF SCHOLZ
"After more than 20 years of negotiations, the Mercosur countries and the EU have reached a political agreement. An important obstacle to the agreement has been overcome. This will create a free market for more than 700 million people along with more growth and competitiveness."
PARAGUAYAN PRESIDENT SANTIAGO PENA
"We celebrate a historic agreement for our region. A unique opportunity for Paraguay to attract investments, strengthen its competitiveness and project itself more strongly to the world."
URUGUAYAN PRESIDENT LUIS LACALLE POU
"An agreement like this is not a solution, but an opportunity... For the smaller countries in Mercosur it is very important that the world opens up to us."
(Compiled by Gabriel Araujo; Editing by Alex Richardson)
The main topic is the newly finalized free trade agreement between the EU and the Mercosur bloc.
The deal promises economic growth, new markets for exports, and strengthened investment flows.
France is notably opposed, citing concerns over agricultural sovereignty.
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