Home » Santiago Peña ruled out an agreement between the European Union and Mercosur this year: “We have to manage expectations”

Santiago Peña ruled out an agreement between the European Union and Mercosur this year: “We have to manage expectations”

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Santiago Peña ruled out an agreement between the European Union and Mercosur this year: “We have to manage expectations”

Paraguay’s President, Santiago Peña, remains optimistic about the trade agreement between the European Union (EU) and the Mercosur countries, despite acknowledging the need to “manage expectations.” In an interview during his official visit to Spain, President Peña stated that he does not believe the agreement will be signed this year, citing unmet conditions on the EU’s side.

While Brussels insists that negotiations are still ongoing and that the agreement is not lost, President Peña recognizes the challenges posed by political decisions and upcoming elections in Europe. He emphasized the readiness of Mercosur countries to move forward but understands the concerns and sensitivities, particularly in relation to agricultural competition.

President Peña highlighted the potential of South American countries in terms of natural resources and geographical extension, emphasizing the benefits of market integration for consumers. He also discussed the possibility of subsidies to help compensate for the effects on certain sectors.

Despite the delays in the EU-Mercosur agreement, President Peña stressed that Paraguay and Mercosur will continue to pursue integration and explore opportunities in other markets. He pointed to recent trade agreements with Singapore and ongoing negotiations with the United Arab Emirates as examples of their proactive approach to economic partnerships.

As President Peña noted, Paraguay will continue to advocate for market integration and hopes that Europe will recognize the mutual benefits that the agreement offers. The future of the EU-Mercosur trade agreement remains uncertain, but President Peña remains committed to advancing economic partnerships and opportunities for his country and the region.

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