"We choose fair trade over tariffs, we choose a productive long-term partnership over isolation, EU chief Ursula Von der Leyen said at the signing ceremony in Paraguay's capital, Asuncion. Paraguay's President Santiago Pena also praised the treaty as sending a clear signal in favour of international trade in a global scenario marked by tensions. Brazilian Foreign Minister Mauro Vieira said it was a bulwark in the face of a world battered by unpredictability, protectionism, and coercion."
"The deal received a greenlight from most European nations last week, despite opposition from farmers and environmental groups, who have raised concerns over a surge of inexpensive South American imports and increased deforestation. Thousands of Irish farmers protested last week against the agreement, accusing European leaders of sacrificing their interests. But the leaders in Paraguay said the pact would bring jobs, prosperity, and opportunities to people on both sides of the Atlantic."
European and South American officials finalised a free trade agreement between the 27-nation EU and the Mercosur bloc after 25 years of negotiations. The pact aims to lower tariffs and boost trade between the two regions. The deal must gain consent of the European Parliament and be ratified by the legislatures of Argentina, Brazil, Paraguay and Uruguay. EU leaders framed the agreement as choosing fair trade and long-term partnership over isolation. Farmers and environmental groups raised concerns about inexpensive imports and increased deforestation, and thousands of Irish farmers protested. Leaders argued the pact would create jobs, prosperity, and opportunities across both regions, with the combined blocs accounting for roughly 30 percent of global GDP and over 700 million people.
Read at www.aljazeera.com
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