European Commission president Ursula von der Leyen has welcomed the move by EU member states to approve the Mercosur trade deal.
The deal, which has been 25 years in the making, was approved by EU ambassadors on Friday.
Ireland, Poland, France, Austria and Hungary voted against the agreement. However, they fell short of the blocking minority needed to fend off the deal.
On Friday evening, von der Leyen said that the outcome of the vote “has sent a strong signal” that Europe is serious about its priorities.
“On our commitment to Europe's competitiveness and creating growth and opportunities for businesses and citizens. On our commitment to diversify our trade and reduce our dependencies.
This deal marks a new era of trade and cooperation with our Mercosur partners
"And in the face of an increasingly hostile and transactional world, a clear commitment to strengthen our international partnerships.
“Just three weeks ago in the context of the European Council, we assured our Mercosur partners that we would travel to see them and together we would make history.
"In that time, we have worked hard with our member states and our stakeholders to deliver. Today, that hard work has paid off and I welcome the decision by the Council so we can move forward,” she said.
She said she is looking forward to signing the landmark deal soon under the Paraguayan presidency.
Substantive deal
“We have delivered a substantive and mutually beneficial deal, which will increase prosperity and create incredible opportunities. This deal marks a new era of trade and co-operation with our Mercosur partners.
"But it is also a testament to the endurance and strength of our relationship with Latin America and one that will bring us closer together.
We have heard the concerns of our farmers and our agricultural sector and we have acted on them
“With the Mercosur agreement, we are creating a market of 700 million people - the largest free trade zone in the world. Our message to the world is this: partnership creates prosperity and openness drives progress,” she said.
The Commission president said that 60,000 European companies export to the Mercosur countries.
“Half of these are small- and medium-sized enterprises that will benefit from lower tariffs, will save around €4bn every year in export duties and will benefit from simpler customs procedures. Crucially, it will also give our companies better access to critical raw materials.”
Farmer concerns
“We have heard the concerns of our farmers and our agricultural sector and we have acted on them. This agreement contains robust safeguards to protect their livelihoods. We are also stepping up our actions in relation to import controls, because rules must be respected, also by importers.
“At the same time, we will harness the opportunities this agreement offers for our farmers. For example, this agreement includes 350 European geographical indications, which is more than in any other EU trade deal.
“This is a win-win agreement. As one of Mercosur's main trade and investment partners, this deal will create more business opportunities and it will drive European investment in strategic sectors. EU exports to Mercosur are expected to grow by almost €50bn by 2040 and Mercosur exports will in turn grow by up to €9bn,” she said.
In order to be ratified, the deal will be voted on by MEPs in the European Parliament in the coming weeks.
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Mercosur gets green light from EU member states
Mercosur approval a 'devastating outcome' for Irish farmers - Sinn Féin
European Commission president Ursula von der Leyen has welcomed the move by EU member states to approve the Mercosur trade deal.
The deal, which has been 25 years in the making, was approved by EU ambassadors on Friday.
Ireland, Poland, France, Austria and Hungary voted against the agreement. However, they fell short of the blocking minority needed to fend off the deal.
On Friday evening, von der Leyen said that the outcome of the vote “has sent a strong signal” that Europe is serious about its priorities.
“On our commitment to Europe's competitiveness and creating growth and opportunities for businesses and citizens. On our commitment to diversify our trade and reduce our dependencies.
This deal marks a new era of trade and cooperation with our Mercosur partners
"And in the face of an increasingly hostile and transactional world, a clear commitment to strengthen our international partnerships.
“Just three weeks ago in the context of the European Council, we assured our Mercosur partners that we would travel to see them and together we would make history.
"In that time, we have worked hard with our member states and our stakeholders to deliver. Today, that hard work has paid off and I welcome the decision by the Council so we can move forward,” she said.
She said she is looking forward to signing the landmark deal soon under the Paraguayan presidency.
Substantive deal
“We have delivered a substantive and mutually beneficial deal, which will increase prosperity and create incredible opportunities. This deal marks a new era of trade and co-operation with our Mercosur partners.
"But it is also a testament to the endurance and strength of our relationship with Latin America and one that will bring us closer together.
We have heard the concerns of our farmers and our agricultural sector and we have acted on them
“With the Mercosur agreement, we are creating a market of 700 million people - the largest free trade zone in the world. Our message to the world is this: partnership creates prosperity and openness drives progress,” she said.
The Commission president said that 60,000 European companies export to the Mercosur countries.
“Half of these are small- and medium-sized enterprises that will benefit from lower tariffs, will save around €4bn every year in export duties and will benefit from simpler customs procedures. Crucially, it will also give our companies better access to critical raw materials.”
Farmer concerns
“We have heard the concerns of our farmers and our agricultural sector and we have acted on them. This agreement contains robust safeguards to protect their livelihoods. We are also stepping up our actions in relation to import controls, because rules must be respected, also by importers.
“At the same time, we will harness the opportunities this agreement offers for our farmers. For example, this agreement includes 350 European geographical indications, which is more than in any other EU trade deal.
“This is a win-win agreement. As one of Mercosur's main trade and investment partners, this deal will create more business opportunities and it will drive European investment in strategic sectors. EU exports to Mercosur are expected to grow by almost €50bn by 2040 and Mercosur exports will in turn grow by up to €9bn,” she said.
In order to be ratified, the deal will be voted on by MEPs in the European Parliament in the coming weeks.
Read more
Mercosur gets green light from EU member states
Mercosur approval a 'devastating outcome' for Irish farmers - Sinn Féin
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