| 3 March 2024, Sunday |

Spain and Brazil leaders to discuss EU-Mercosur deal at COP – sources

The conclusion of negotiations on a long-awaited trade agreement between the European Union and Mercosur will be the topic of a meeting between Brazilian President Luiz Inacio Lula da Silva and Spanish Prime Minister Pedro Sanchez at the COP28 climate conference in Dubai, people familiar with the situation told Reuters on Wednesday.

The sources stated that although their meeting’s timing has not yet been determined, it is anticipated to take place on Friday.

The trade treaty has been two decades in the making. An agreement in principle was reached in 2019, but additional environmental commitments demanded by the EU and new concessions sought by Brazil and Argentina prolonged the negotiations.

Brazil and Spain, which respectively hold the temporary presidency of Mercosur and of the European Union until the end of this year, consider sealing the deal a priority.

The governments of Mercosur, which also includes Argentina, Paraguay and Uruguay, hope to announce the conclusion of negotiations at their annual presidential summit on Dec. 7 in Rio de Janeiro.

  • Reuters