Postponement of the free trade agreement between the European Union and the Common Market of South American countries

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The European Union postponed the signing of the free trade agreement with the Common Market of South American countries “Mercosur”, due to France’s demand for guarantees of implementation of environmental and health standards for the member states of “Mercosur”.

French Foreign Trade Minister Franck Riester said that Paris’ failure to sign the agreement does not mean France’s withdrawal, but only a political notice regarding the environmental obligations of the four constituent countries of the Common Market of South American countries (Argentina, Brazil, Uruguay and Paraguay), according to the Argentine News Agency.

The French Minister of Foreign Trade’s comments came after a meeting of the European Union’s Political Control Committee for Trade, which brought together parliamentarians, officials, non-governmental organizations, trade unions and businessmen.

For its part, the Argentine Foreign Ministry said, in a statement today, that Portugal and Argentina have agreed on the need to make progress on the outstanding issues that impede the entry into force of the free trade agreement between the European Union and Mercosur during the two countries’ presidency of each bloc.

She added that both sides stressed the importance of signing the agreement and its entry into force as soon as possible to contribute to the speedy economic recovery of the countries concerned with the agreement from the repercussions of the “Corona” pandemic.

It is noteworthy that among the pending issues for the implementation of the free trade agreement between the European Union and the “Mercosur” countries includes the coordination of technical aspects such as lists of geographical indications that cover products with the determination of the country of origin, as well as other important issues such as adherence to environmental standards, which were questioned by a number of European countries, like France.

Source: A.A.A.

The article Postponement of the Free Trade Agreement between the European Union and the Common Market of South American Countries was written in the Stock Exchange newspaper.