The EU’s trend of negotiating preferential or free trade agreements with different regions and countries of the world has experienced successes and failures. EURACTIV’s partner Efeagro reports.
While the EU has sometimes succeeded in the race for international trade, like in the case of the EU-Canada free trade agreement (CETA), it has also failed – notably when it came to negotiating the Transatlantic Trade and Investment Partnership (TTIP) with the US, which died a slow death following the election of President Donald Trump.
Now, besides the future of EU-UK trade relations after Brexit, progress on free trade is hoped for with Mercosur countries.
The EU-Mercosur deal was always expected to be complex, with a path full of obstacles. Not only is the agreement’s content being questioned, but the environmental policy of Brazilian President Jair Bolsonaro has also become a problem.
However, were the EU to withdraw from the agreement with the Mercosur states, experts believe China would benefit.
Considering these elements, the European Commission keeps taking steps with the aim of making the agreement a reality, at the earliest, by the end of 2021.