EU, Brazilian companies push for a bilateral trade deal

According to a survey released by the EUBrasil Association, international companies involved with Brazil and the European Union indicated that a bilateral free trade agreement should be the priority for the European Commission which took ofice in November 2014.

The business push comes at a time when Brazil was about to take the leadership of the South Amercian trading bloc, Mercosur, in 2015.

Fifteen years after talks between the EU and Mercosur were first launched in 1999, both sides have missed self-imposed deadlines to swap offers for opening markets in a pact that would encompass 750 million people and $130 billion in annual trade.

After a five year break, talks were resumed in 2004, with the goal of exchanging proposals by the end of 2013, which was missed too.

ESO: Background information: Mercosur trade deal to cost EU farmers billions: Study http://www.europeansources.info/record/mercosur-trade-deal-to-cost-eu-farmers-billions-study/

ESO: Background information: 7th EU-Brazil Summit, Brussels, 24 February 2014 http://www.europeansources.info/record/7th-eu-brazil-summit-brussels-24-february-2014/

EUBrasil Association: News, 09.12.14: Companies urge Europe and Brazil to reach a Free Trade Agreement http://www.eubrasil.eu/en/2014/12/09/companies-urge-europe-and-brazil-to-reach-a-free-trade-agreement/

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