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.
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Belarus has released 123 prisoners, including opposition leader Maria Kalesnikava and Nobel Peace Prize laureate Ales Bialiatski, following an agreement with the United States to ease sanctions on the country’s potash exports.
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Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
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