European Union economic and trade relations with Mercosur with a view to negotiation of an interregional association agreement

The European Parliament adopted a resolution based on the own-initiative report by Daniel VARELA SUANZES-CARPEGNA (EPP-DE, ES) on economic and trade relations between the EU and Mercosur with a view to the conclusion of an Interregional Association Agreement. (Please see the summary of 11/09/2006.) Parliament also stressed that, according to studies,  the costs of not reaching an agreement are estimated to be at least EUR 3,700 million per annum in trade in goods, rising to over EUR 5, 000 million if investment and services are included.

On the negotiation of the FTA, Parliament added that, as well as being decoupled from the Doha round, the FTA, like the conclusion of the Doha Round, must not be subordinated exclusively to concluding negotiations on agricultural issues. Negotiations are needed in every field including trade in goods and services, investment, public procurement and other trade barriers.

Parliament went on to make specific observations on each sector of the proposed FTA, including agriculture, non-market agricultural access, services, investment, and intellectual property.