EU-Mercosur deal will ‘mainly’ benefit Europe, says Paraguay president

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A new free-trade deal between the European Union and Latin America's Mercosur bloc will "mainly" benefit Europe, Paraguay's President Santiago Peña told AFP Monday.

The Paraguayan leader spoke in Paris ahead of a meeting with France's President Emmanuel Macron, whose country has strongly opposed the deal.

"We'll have to try and understand it better, we have to lose our fears," Peña said.

"This will bring benefits mainly for Europe and for Latin America as well," he added.

Friday's deal between Brussels and Mercosur members Argentina, Brazil, Paraguay and Uruguay aims to create a 700-million person free-trade area.

EU Commission chief Ursula von der Leyen has called it a "win-win" for both sides.

But European farmers, who have demonstrated in force this year against their regulatory burden and squeezed revenues, say they will face unfair competition from their Latin American peers.

"Processes of change are always difficult, because those who feel they will lose some privilege are the first to see it, and the vast majority of those who will benefit are the last to know," Pena said.

Most French political parties have rejected the deal, including Macron, who has been weakened by the collapse of the country's minority government last week.

The EU-Mercosur pact still needs to be approved by at least 15 of the European Union's 27 member nations representing 65 percent of the EU population, and by the European Parliament.

Pena said it had taken 25 years to thrash out the final trade deal. "We can't now spend another 25 years for it to come into force," he added.

– TIMES/AFP

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EU-Mercosur deal will ‘mainly’ benefit Europe, says Paraguay president

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