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Minister of Agriculture argues that agreement reduces Portuguese trade deficit

by AI | 18.Nov 2024 | Europe in brief AI

The agreement, which is expected to be finally signed in December after being closed in 2019 after 20 years of negotiations, is good for Portugal in geopolitical terms and also for climate goals, says the minister.

The Minister of Agriculture believes that the EU-Mercosur agreement will be signed Photo European Council

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Brussels – The Minister of Agriculture, José Manuel Fernandes, argued today that the trade agreement between the European Union (EU) and Mercosur should help reduce Portugal’s trade deficit with Brazil.
In the case of Portugal and Brazil, “without Mercosur, we have an annual deficit of 500 million euros, with the agreement I am convinced that this deficit in the agri-food and forestry sector could and will be reduced,” said José Manuel Fernandes.
Speaking on the sidelines of the meeting of Agriculture Ministers in Brussels, the Minister explained that Portugal could increase exports in terms of wines, olive oil, and Rocha pear.
The agreement, which is expected to be finally signed in December, after being closed in 2019, after 20 years of negotiations, is good for Portugal in geopolitical terms and also for climate goals.
Despite the announced reticence of France, the Minister considers that it should not be able to create a blocking minority.
The text, he said, has social and sustainability clauses, emphasizing that “it is a ‘win-win’ situation (both parties benefit) and that’s why it’s an agreement, it benefits both parties, despite the challenges.”
The EU-Mercosur pact was finally signed in June 2019, after 20 years of negotiation, but has been blocked since then by the opposition of some European countries, particularly France, which is now seeking to form a coalition to veto it. (November 18, 2024)

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