"Brazil's President Luiz Inacio Lula da Silva insisted this week that there are no remaining obstacles to signing the EUMercosur trade agreement next month after more than two decades of negotiations. Speaking on the sidelines of the G20 summit in South Africa, Lula said the deal would represent "possibly the largest agreement" in global trade, citing both blocs' nearly 722 million population and $22 trillion in gross domestic product (GDP)."
""On a geopolitical level, these agreements strengthen the US presence amid growing competition with China in infrastructure, technology and critical minerals," Vladimir Rouvinski, a political scientist at ICESI University in Cali, Colombia, told DW. Rouvinski said closer trade ties with Washington would give Latin American countries "greater room to maneuver, access to technical collaboration and opportunities to diversify production." He believes the deals could anchor Latin America within the US's shifting economic priorities and give the region a stronger footing in the broader global realignment."
Brazil's president said no obstacles remain to signing the EUMercosur trade agreement next month after more than two decades of negotiations. He called the deal possibly the largest agreement in global trade, citing nearly 722 million people and $22 trillion GDP across the blocs. EU trade officials consider the pact close, but France and Hungary demand last-minute changes over agricultural risks. The US has accelerated trade talks with Argentina, Guatemala, El Salvador and Ecuador to counter China's regional influence. Analysts say US frameworks strengthen geopolitical presence, offer technical collaboration, diversify production and could anchor Latin America to US economic priorities.
Read at www.dw.com
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