Rio De Janeiro: French President Emmanuel Macron, in the midst of his visit to Brazil, denounced a potential agreement between the European Union and the South American Mercosur trade bloc as a “very bad deal” and emphasized the necessity for stronger climate commitments.
Addressing businessmen in Sao Paulo during his three-day trip to Latin America’s largest economy, Macron expressed his concerns over the ongoing talks regarding a free trade deal between the two economic blocs. “As it is negotiated today, it is a very bad deal, for you and for us,” he remarked, stressing the absence of considerations for biodiversity and climate. “Let’s forge a new deal in light of our goals and reality, a trade deal that is responsible on development, climate and biodiversity,” he urged.
While Brazil has indicated its readiness to sign the deal, France has consistently voiced reservations, particularly regarding the potential influx of agricultural imports, such as beef, that do not adhere to strict EU standards, citing objections from its farmers.
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‘Decisive Progress’
At the same event, Brazilian Finance Minister Fernando Haddad acknowledged the setbacks but remained hopeful, stating, “We still have time.” He emphasized the importance of the deal, noting that Brazilian President Luiz Inacio Lula da Silva had dedicated significant effort to its advancement and would continue to pursue a closer relationship with the European market.
European officials have suggested that “decisive progress” could be achieved by July, indicating ongoing efforts to reach a consensus.
In addition to his critique of the trade deal, Macron called for increased direct investment from Brazilian firms into France and proposed cooperation between the two countries in investing in third markets, particularly in Africa. Lula, who has prioritized strengthening ties with African nations since returning to power, expressed his commitment to revitalizing the relationship between Brazil and the continent.
