Brazilian Finance Minister Fernando Haddad urged the European Union to consider the political significance of its trade deal with Mercosur rather than focusing solely on economic factors.
Speaking at a conference at Sciences Po university in Paris on Monday, Haddad emphasized that while the agreement may offer limited economic benefits for Mercosur, its political value is crucial for both parties.
“In my opinion, Europe should also take a political look at this agreement, not just discuss every single 'win or lose' clause in the text,” Haddad stated.
The EU-Mercosur free trade agreement, concluded in December, promises about 4 billion euros ($4.33 billion) in annual tariff reductions. However, the deal still awaits approval from EU member states and faces resistance from countries such as France and Italy.
Haddad argued that embracing multilateralism is essential amid the uncertainty caused by U.S. tariff policies. He also noted that the Brazilian finance ministry is committed to ensuring the success of COP30, which Brazil will host in November, as part of restoring global multilateralism.
The trade deal is seen as an opportunity for both blocs to strengthen ties and counterbalance a potentially fragmented global landscape.
Wildfires and a severe heatwave sweeping across Europe have claimed the lives of two people in Spain and another two in France, while also causing the...
Poland will invest nearly $665 million in building three ammunition factories, aiming to boost defence readiness amid growing regional tensions....
Azerbaijan and Uzbekistan signed a series of significant agreements on July 2, focusing on agriculture, transport, trade, education, social protection...
A multimodal cargo airport in Azerbaijan’s Alat Free Economic Zone (FEZ) is scheduled for commissioning in Q1 2027, the deputy head of the FEZ gover...
Belarusian President Alexander Lukashenko has pardoned 16 individuals convicted of various offences, including charges of "extremism", ahead of the co...
Wildfires and a severe heatwave sweeping across Europe have claimed the lives of two people in Spain and another two in France, while also causing the shutdown of a nuclear reactor in Switzerland.
Azerbaijan and Uzbekistan signed a series of significant agreements on July 2, focusing on agriculture, transport, trade, education, social protection, and environmental cooperation.
Belarusian President Alexander Lukashenko has pardoned 16 individuals convicted of various offences, including charges of "extremism", ahead of the country's Independence Day, state media reported on Wednesday.
A UN report claims Rwanda has been providing military support and training to M23 rebels in eastern Congo, gaining political influence and access to mineral-rich areas, despite Rwanda's denials.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
British prosecutors are reviewing new evidence to decide whether to charge Lucy Letby over additional baby deaths at two hospitals, as police expand their investigation into both the former nurse and hospital leadership.
Thick smoke and flames rose over Mogadishu airport on Wednesday after a Ugandan military helicopter crash landed during a peacekeeping mission, leaving several crew members unaccounted for.
Poland will invest nearly $665 million in building three ammunition factories, aiming to boost defence readiness amid growing regional tensions.
Belarusian President Alexander Lukashenko has pardoned 16 individuals convicted of various offences, including charges of "extremism", ahead of the country's Independence Day, state media reported on Wednesday.
A UN report claims Rwanda has been providing military support and training to M23 rebels in eastern Congo, gaining political influence and access to mineral-rich areas, despite Rwanda's denials.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment