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EU-Mercosur FTA: 78 business organisations call for swift conclusion

Nov 22, 2024 European Union

CEC and 77 other business organisations from the European Union (EU) and Mercosur are urging their governments to rapidly conclude negotiations on a free trade agreement between the two blocs

The European Footwear Confederation (CEC) and Abicalçados are among the 78 business associations from the EU and Mercosur that are calling on their governments to expedite the conclusion of the EU-Mercosur Free Trade Agreement (FTA) negotiations. The agreement is expected to strengthen trade relations and promote investment and sustainable development.

In a joint statement addressed to the Presidents of the European Parliament, the European Council, the European Commission and the Hungarian Presidency, and shared with the Mercosur Presidency, the organisations highlight that trade in goods and services between the EU and Mercosur exceeded 159 billion euros in 2022, with mutual investment approaching 380 billion euros. Together, these economic ties support millions of jobs on both continents.

In particular, this FTA would remove trade barriers, allowing greater market access and a steady flow of goods and services; help mitigate the impact of supply chain disruptions, ensuring reliable access to essential resources; and, by deepening cooperation between the blocs, promote sustainable development, labour rights and environmental standards in both regions.

Therefore, the coalition of business organisations urges policymakers to take immediate steps towards ratification, thereby positioning the EU and Mercosur to enhance their mutual competitiveness in a changing and challenging global landscape.

Image Credits: noticias.portaldaindustria.com.br

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