MERKEL-BRAZIL Merkel hopes for successful EU-Mercosur free trade agreements

Record ID: 143186

  • Title: MERKEL-BRAZIL Merkel hopes for successful EU-Mercosur free trade agreements
  • Date: 20th August 2015
  • Summary: BRASILIA, BRAZIL (AUGUST 20, 2015) (REUTERS) SUN RISING OVER BRASILIA BUILDING DESIGNED BY ARCHITECT OSCAR NIEMEYER IN BRASILIA CARS DRIVING BY BUILDING GERMAN CHANCELLOR ANGELA MERKEL ARRIVING TO MEDIA ROOM MEDIA (SOUNDBITE) (German) GERMAN CHANCELLOR ANGELA MERKEL, SAYING: "There is one development that makes me hopeful and could enforce the revival of the economic coope
  • Embargoed: 4th September 2015 13:00
  • Keywords:
  • Location: Brazil
  • Country: Brazil
  • Topics: General
  • Reuters ID: LVAANQE775FHGSXHXQW0MQX0L15X
  • Aspect Ratio: 16:9
  • Story Text: German chancellor Angela Merkel said on Thursday (August 20) that she hoped for a successful end to over 15 years of talks about free trade deal between the European Union and South America's Mercosur trade bloc.
    "There is one development that makes me hopeful and could enforce the revival of the economic cooperation: that is a new willingness of Brazil in speeding up the negotiations on the EU-Mercosur free trade agreement. Brazil is very ambitious as far as that is concerned. This issue played a big role in yesterday's talks and will be doing so today as well," the 61-year old politician said during her two-day visit to Brazil.
    Off and on talks have been held since 1999 and were taken up again in 2010 after a six-year freeze. Talks have floundered in the past over European agricultural subsidies and the opening of Mercosur industries to competition from Europe.
    The Mercosur trade bloc is formed by Brazil, Argentina, Uruguay, Paraguay and, more recently, Venezuela.
    Brazil, a regional powerhouse that is seeking more trade to boost an economy reeling from its sharpest slowdown in three decades, has often expressed that it feels it is being left behind by advances in the negotiation of trade pacts between Pacific nations and between the EU and the United States.
    Merkel said all options were on the table as the Latin American country is close to meeting the long sought criteria.
    "Maybe we have to consider finding ways to allow some different speeds (in the negotiations). That is a measure we use quite often as we know from the European Union, meaning there are negotiations with the entire Mercosur group, and some go forward, as Brazil and others are ready to. That is the new momentum I see and that is very helpful," Merkel said.
    Under her visit, the German Chancellor is also expected to press Brazil to grant better investment terms to German companies that have poured over 19 billion euros ($21 billion) into the struggling economy but face rising energy costs, government officials said.
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