São Paulo – In the wake of the Mercosur member states and the United Arab Emirates agreeing on the terms of reference of a free trade deal, new steps are set to be taken for it to progress. Online meetings will take place in July and August, with a new in-person round of talks in September, and the conclusion and signing of the agreement in November, on the sidelines of the G20 meeting.
Information was disclosed on Monday (15) by Brazil’s National Institute of Metrology Standardization and Industrial Quality (Inmetro), which attended the first round of talks alongside the country’s Ministry of Foreign Affairs, Ministry of Agriculture, Livestock and Supply, Ministry of Development, Industry, Trade and Services, Federal Revenue, and Central Bank.
The round took place in Asunción, Paraguay, in early July, when the agreement’s terms of reference were negotiated. The finalization of the terms of reference was announced by the Mercosur on July 7, the first day of the Mercosur Summit, which gathered the bloc’s members states, their leaders and partners, in Paraguay until the 8th.
“The negotiations are expected to conclude in November 2024, during the G20 meeting, when the signing of the agreement will be signed,” Inmetro said. The Brazilian-chaired G20 Leaders’ Summit takes place on November 18 and 19 in Rio de Janeiro, featuring the 19 countries, the African Union and the European Union. In late November, Brazil hands over the presidency.
Mercosur-UAE talks
Inmetro, a Brazilian federal authority focused on improving the quality of products and services, participated in the meeting on the Mercosur’s agreement reporting advancements on chapters regarding sanitary and phytosanitary barriers, services and goods. Inmetro says it presented a proposed chapter on technical barriers based on the text of the agreement signed by with Singapura and in line with the UAE’s proposal.
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Translated by Guilherme Miranda
