Diaz Granados sees an urgent need to close the EU-Mercosur agreement, an economic space similar to the United States.

This content was published on Jul 16, 2023 – 19:58


Brussels, July 16 (EFE). – The CEO of the Development Bank of Latin America and the Caribbean (CAF), Sergio Diaz Granados, on Sunday considered it “urgent” to close the agreement between the European Union and Mercosur (Argentina, Brazil, Paraguay and Uruguay) to make the most of business in an economic space equivalent to that of the United States.

“I think it is urgent that an agreement be concluded between Mercosur and the European Union. In addition, it will provide a unique opportunity for the European Union and Latin America to reach an area of ​​approximately 1,800 million people and a value of almost $21 trillion in size from the two blocs,” Garcia Granados said in an interview with EFE. roughly the size of the US economy.

“There is a great opportunity in the convergence of these markets to generate jobs, reduce poverty and protect the environment,” Al-Kolomby stressed.

He insisted the leader of CAF, a leading institution in Latin America and one of the main sources of multilateral funding for the region.

The lawyer and politician, who has led CAF since September 1, 2021, noted, “These agreements are mainly intended to create rules of the game, so that there is more clarity in the works, so that communities can understand where the opportunities are and make the most of them.

For this reason, he called for the promotion during the current Spanish Presidency of the Council of the European Union “a convergence that allows to close the agreement in terms of self-determination, respect and understanding where the parties are today in the twenty-first century and help create an area, hopefully more ambitious, for trade in all of Latin America and the Union European”.

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This space, in his opinion, will be “an example and we can lay the foundations for rules that are a global example, and that call for more to proceed on this path.”

“In addition, it will allow us internally in Latin America to have better trade between us as well and it will greatly help us to improve inter-regional exchange,” he added.

That is why the Colombian politician and lawyer estimated that, after several decades of negotiations, there was now an “enormous” chance of reaching an agreement, and hoped that the 33 leaders of the European Union and the Community of Latin American and Caribbean States (CELAC), who hold a summit on Monday And Tuesday in Brussels, “find the light in this tunnel” in their talks.

Ratification of the EU-Mercosur Association Agreement depends on the parties agreeing to an annex confirming climate commitments and preventing deforestation.

Mercosur has to respond to the recent European proposal for an annex, which was not well received by the South American bloc.

The update of the Association Agreements with Chile and Mexico awaits their ratification. EFE

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