EURATEX & Industry Associations urge for Quick EU-Mercosur Trade Deal

EURATEX, along with 22 other industry associations, has issued a joint letter to the three EU Presidents, urging a swift conclusion to the trade negotiations between the EU and Mercosur on the remaining unresolved issues.

Addressed to President Metsola of the European Parliament, President Michel of the European Council, and President von der Leyen of the European Commission, the letter represents the collective voice of 23 associations. These groups span a broad spectrum of European industries and businesses, including manufacturing and food-related sectors, all united in their call for action.

The associations stress the importance of the EU-Mercosur agreement in enhancing economic integration and diversifying value chains in both imports and exports. They highlight the agreement's critical role in bolstering the competitiveness of Europe's export-oriented sectors, which are responsible for tens of millions of jobs. The letter underlines the agreement's significance in contributing to the prosperity and standards of living of European citizens, particularly during a time of increasing economic security concerns.

The EU-Mercosur agreement presents a unique and timely opportunity for Europe to establish a first-mover advantage in partnering with one of the world's largest economie. The associations emphasise that the deal would significantly reduce both tariff and non-tariff barriers, thereby improving European companies' competitiveness in Mercosur's market, which boasts over 270 million consumers.

Furthermore, the letter acknowledges the potential of the agreement to maintain a robust industrial structure within the EU, including in rural areas, and to safeguard millions of European citizens' jobs and well-being. With the EU's lack of substantial reserves of key raw materials necessary for the green and digital transition and the expectation of substantial global growth coming from outside the EU in the next decade, the agreement is seen as crucial for European industries to access open export markets and procure raw materials competitively.

In their commitment to free, fair, and sustainable trade, the associations recognise the need to protect the unique ecosystems of the Mercosur region. They believe that the EU-Mercosur agreement offers strong incentives and the right tools for collaboration to uphold the region's sustainable development commitments, including halting illegal deforestation.

Fibre2Fashion News Desk (HU)