Thursday, April 25, 2024
name of Prensa Latina
Bandera inglesa
English Edition
Close this search box.
name of Prensa Latina



German businessmen in favor of EU-Mercosur agreement

Berlin, Mar 29 (Prensa Latina) The German Association of Chambers of Commerce and Industry (DIHK) today called for the conclusion of a trade agreement between the European Union (EU) and Mercosur, after talks that have been inconclusive for a quarter of a century.

From the point of view of many German companies, the EU should ‘swiftly conclude an ambitious trade agreement with Mercosur and thus establish positive growth impulses for our economy,’ the DIHK said in a statement.

Brazil, Argentina, Uruguay, Paraguay and Bolivia make up the Southern Common Market (Mercosur), whose trade talks with the EU are reportedly currently going through one of their worst moments due to the EU club’s demands on environmental standards and the use of protectionist measures.

Export-oriented German companies can no longer afford decades of negotiations; “China, for example, has long been doing things the right way in the continent of opportunity that is South America,” DIHK CEO Martin Wansleben said.

In addition to boosting European foreign trade, he reasoned out, the South American region could become an important partner for the supply of raw materials.

At this moment around 85 percent of the EU countries’ exports to Mercosur are burdened with customs duties, which entails annual costs of four billion euros for companies, he weighed.