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.

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