Have the article read by OpenAI (Beta). Please note that AI translations may take some time to process.Davos, Switzerland (dpa) – German Chancellor Friedrich Merz has blasted the European Parliament for referring the contested EU free trade deal with four countries from the South American Mercosur bloc to court.
“I deeply regret that the European Parliament has put another obstacle in our way,” Merz told political and business leaders at the World Economic Forum in Davos on Thursday. “But rest assured, we will not be stopped. The Mercosur deal is fair and balanced. There is no alternative to it if we want to have higher growth in Europe.”
Merz said he expects the trade deal to be implemented “provisionally” despite the Parliament’s challenge.
The European Parliament voted on Wednesday to have the Mercosur trade deal, which was signed last week following decades of painstaking negotiations, reviewed by the European Court of Justice (ECJ).
Waiting for the court’s opinion could significantly delay the ratification process for the agreement with Brazil, Argentina, Paraguay and Uruguay. It is unclear how long it will take for the judges at the ECJ in Luxembourg to submit their assessment, but previous assessments took between 16 and 26 months.
The agreement, which aims to remove trade barriers and customs duties and boost the exchange of goods and services, would create one of the largest free trade zones in the world. (22 January)
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