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EU negotiations with the Mercosur group of
Argentina, Brazil, Paraguay and Uruguay, the world's
fourth-largest trade bloc, have intensified since Europe's trade
talks with the United States were frozen after Donald Trump's
2016 presidential election victory.
However, EU nerves about a surge of beef imports and Mercosur
hesitation about opening up some industrial sectors, such as
cars, have meant past deadlines have come and gone. A deal may
be close, but just beyond reach.
European Trade Commissioner Malmstrom said she did not want to
specify a new deadline, but believed an agreement could be
struck during the term of the current European Commission, which
runs until the end of October.
"There are some complicated matters remaining - agriculture and
a few others ... I think there is a window now to close this,
during this Commission. I will absolutely do my utmost. This is
priority number one right now," she told an event hosted by the
Bruegel think-tank in Brussels.
Malmstrom said the two sides were getting closer, with offers
exchanged already on less controversial farm products.
In terms of tariff reduction, it could be the EU's most
lucrative trade deal to date, with the savings potentially four
times greater than for deals with Canada and Japan combined.
"It would be an extremely powerful signal ... For economic
reasons, strategic reasons, and political reasons everything
speaks in favor of this," Malmstrom said.
Brazilian President Jair Bolsonaro said a week ago that Mercosur
would soon sign a trade deal with the EU.
(Reporting by Philip Blenkinsop; Editing by Mark Heinrich)
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