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  HOME | Latin America (Click here for more)

Macri: EU-Mercosur Trade Agreement ‘Most Important in Bloc’s History’

OSAKA, Japan – Argentina’s President Mauricio Macri described on Friday the trade agreement reached between the European Union and Mercosur after 20 years as “the most important in history” for the South American trade bloc.

Macri, whose country Argentina holds the Mercosur presidency, said the pact signed on Friday will bring “great opportunities for growth and employment” for the region, according to a press conference held in Osaka, Japan, on the sidelines of the G20 summit.

Macri spoke alongside European Commission President Jean-Claude Juncker, backed by European leaders including Spain’s Prime Minster Pedro Sanchez and Brazil’s President Jair Bolsonaro.

Juncker said the “truly historic” and “landmark” agreement brings “two continents closer together in a spirit of openness and cooperation” and “sends a real message in support of open, fair, sustainable and rules-based trade.”

He said in a statement Friday night that it was the EU’s biggest deal to date.

For Macri, the agreement will “strengthen the region’s growth” – not only by trade but also by the flow of investments, and by giving “more peace of mind” and “clearer and more stable rules” for those who want to settle and develop projects.

Macri stressed that the Mercosur countries – Brazil, Argentina, Uruguay and Paraguay – are very happy because of the opportunity for growth and employment that the agreement means for them.

It is a deal that is ultimately “one of the most important things that has happened and one of the few good news in months” that allows the interconnection of the economies of the region with those of the EU and will guarantee growth and reduction of poverty.

 

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