"It's a day more than a quarter of a century in the making: On Saturday, European Commission chief Ursula von der Leyen is jetting off to Paraguay to sign the EU's biggest-ever trade deal with South America's Mercosur bloc. The EU is styling the megadeal as proof it can forge alliances and chart its own course in an age of disorder."
""Twenty-six years ago, this was an agreement about leadership, about setting rules for trade in the world," he told DW. Now, as the EU's share in the global economy has dropped over the years, "it's about resilience." Malamud described the deal as an EU attempt to re-assert rules-based order and norms, "which are kind of disappearing in the rest of the globe." In this sense, he added,"this not just about trade, it's about political cooperation and political dialogue.""
European Commission chief Ursula von der Leyen will sign a long-negotiated trade pact in Paraguay creating a free-trade zone between the EU and Mercosur members Brazil, Argentina, Paraguay and Uruguay. Negotiations began in 2000 and the agreement now carries geopolitical significance amid the war in Ukraine and US trade disruptions. Analysts describe the pact as an attempt to reassert rules-based order, strengthen political cooperation and bolster resilience. The deal remains contentious with climate campaigners, farmers and countries such as France and still requires approval from EU parliamentarians. The agreement offers improved access to Brazilian mineral reserves to reduce reliance on China for critical raw materials.
Read at www.dw.com
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