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HomeEconomyBrazil's Lula to make counter-proposal on Mercosur trade deal in 2-3 weeks

Brazil's Lula to make counter-proposal on Mercosur trade deal in 2-3 weeks

By Catarina Demony and Andrew Gray

(Reuters) – Brazil’s President Luiz Inácio Lula da Silva said on Wednesday he would resolve the long-delayed The trade deal with the South American bloc Mercosur is under counter-proposal to the EU in the next two to three weeks.

Lula, speaking after a two-day EU-CELAC (Community of Latin American and Caribbean States) summit in Brussels, Brazil said it had compiled a response that was being submitted by Discussions in the Mercosur group, which also includes Argentina, Paraguay and Uruguay.

“In two to three weeks we will present the final proposal to the EU,” Lula told reporters, adding that he believed the EU would agree to this “very easily”.

The EU and Mercosur concluded negotiations on 2019, but the deal has been put on hold due to Amazon concerns (NASDAQ: AMZN ) Deforestation and Brazil’s commitment to climate change action.

Lula, who was elected last year, promised to overhaul the country’s climate policy.

The committee proposed an annex to the agreement expressing commitment to deforestation and other sustainable areas and is awaiting a response from Mercosur.

Lula said in Brussels that “for the first time” he was optimistic that the two sides would reach an agreement later this year.

While the EU-CELAC summit marked a new era of increased political and economic cooperation among European, Latin American and Caribbean leaders, the mood at the meeting was clouded by debate over how to resolve Russia’s The war in Ukraine.

The Brazilian leader suggested earlier this year that the West had been “encouraging” war angered Western countries to arm Ukraine.

Lula said it was necessary for countries to “convince Russia and Ukraine that peace is the right path”.



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