São Paulo – Upon assuming the pro tempore presidency of Mercosur at a summit on Thursday (3) in Buenos Aires, Argentina, Brazilian President Luiz Inácio Lula da Silva said that one of Brazil’s priorities during its term will be to finalize ongoing trade agreements. He said Brazil aims to sign the deal with the European Union by the end of this year and mentioned negotiations with the United Arab Emirates. “We will also advance talks with Canada and the UAE,” he said in part of his speech.
Attending and speaking at the summit were Argentina’s President Javier Milei, who handed over the presidency to Lula, Bolivia’s President Luis Arce, Paraguay’s President Santiago Peña, and Uruguay’s President Yamandú Orsi.
This week, Mercosur concluded negotiations on an agreement with EFTA (comprising Switzerland, Liechtenstein, Iceland, and Norway), which is expected to be signed by the end of the year. Lula mentioned the need to pursue free trade with Panama and the Dominican Republic. He also spoke about updating agreements with Ecuador and Colombia, as well as “looking towards Asia,” which he described as the dynamic center of the global economy, citing the need for closer ties with Japan, China, Korea, India, Vietnam, and Indonesia.
Other priorities mentioned by Lula during Brazil’s Mercosur presidency include tackling climate change and promoting the energy transition, technological development, fighting organized crime, and promoting citizens’ rights.
Mercosur, the customs union formed by Brazil, Paraguay, Uruguay, Argentina, and Bolivia, already has free trade agreements with Palestine and Egypt among Arab countries and is negotiating a deal with the UAE. Bolivia joined the bloc later, while another member state, Venezuela, is currently suspended.
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Translated by Guilherme Miranda
