Reports coming out of both Brazil and Brussels suggest that the Mercosur group of nations are close to finalising an offer on negotiations over a trade deal between the two bodies. A proposed deal from Mercosur could be made as soon as Tuesday week, 29 April.

During a press conference yesterday (Wednesday) chief of the Argentine cabinet of ministers Jorge Capitanich confirmed that “significant advances” regarding Mercosur’s proposal to the EU have been made and that he is expecting a deal to be sent shortly.

According to Uruguayan news service, MercoPress, the Mercosur partners (Argentina, Brazil, Paraguay and Uruguay) held meetings in Montevideo last week where they were reported to have agreed a common ground.

This will now be issued to the EU before the end of the month.

Partnership

The EU and Mercosur have been negotiating a trade partnership since 1999. Progress has been slow as EU countries, headed by Ireland, had been refusing to move on Mercosur’s stance with regard to agriculture. In return, Europe wants to develop opportunities in manufacturing and services in South America.