EU industry coalition calls for a swift ratification of the EU-Mercosur Free Trade Agreement
CLEPA, together with 18 other European business associations, representing different industrial sectors responsible for millions of jobs, are calling on the European Union to ensure the swift ratification of the EU-Mercosur agreement as a key to preserve the EU’s competitiveness and secure supply chains and the jobs and prosperity that they provide.
“We are glad to see that the importance of this topic has been recognised in the trade pillar of the Green Deal Industrial plan. We also welcome that discussions are held at the highest political level, which focus on the EU through its trade policy can foster sustainable development while creating opportunities for closer trade and investment relations between the EU and Latin America. While we understand the legitimate concerns on environmental aspects, the EU-Mercosur agreement offers a very strong incentive to maintain the region’s sustainable development pledges, including the halt of illegal deforestation”, the letter says.
The group stresses that the agreement, once ratified, will provide concrete tools to engage and collaborate with Mercosur countries on global challenges, such as climate change, forests preservation, and labour rights.
The coalition also raises the importance of diversifying the EU’s portfolio of export markets after different crises since 2020 and subsequent strain on supply chains. In their view, the EU-Mercosur agreement offers Europe a unique and timely opportunity to seize a first mover advantage into the wider Latin America market. As significant barriers to trade with the Latin America region are still in place, the ratification of the EU-Mercosur agreement would help Europe remain a key player and open up trade opportunities with both the Mercosur countries and with Latin America at large.
In: CLEPA News, Growth & Competitiveness, Trade