BRUSSELS, Jan 16 (KUNA) -- European Commission President Ursula von der Leyen said on Friday evening that the trade agreement between the European Union and Mercosur bloc represents a strategic step toward strengthening economic prosperity and supporting multilateralism.
The deal embodies the power of partnership and openness between regions and reflects the EU's commitment to a rules-based international order and collective cooperation, she said following her meeting with Brazilian President Luiz Inacio Lula da Silva in Rio de Janeir.
The agreement sends a "powerful message" that partnership and openness are the foundation for creating real and shared prosperity, von der Leyen said, adding that it reinforces the European Union's position as the world's largest market and free trade area.
The EU chief highlighted President Lula's leadership role in the final stages of the negotiations, praising his commitment to shared values, foremost among them democracy, a rules-based international order, and respect for the environment and communities.
The agreement, reached in Brussels last week after 25 years of negotiations, covers more than 90 percent of bilateral trade and includes the European Union and the four Mercosur countries namely Argentina, Brazil, Paraguay and Uruguay which together account for around 30 percent of global GDP and more than 700 million consumers.
Von der Leyen noted that the agreement will open broad horizons for investment and supply chains and provide clear and predictable rules, thereby enhancing jobs and income on both sides of the Atlantic, emphasizing that international trade "is not a zero-sum game." She also welcomed progress toward a parallel political agreement between the European Union and Brazil on critical raw materials, supporting Europe's digital and green transitions and strengthening the EU's strategic autonomy, while adhering to the highest standards of transparency, environmental protection and ensuring benefits for local communities.
The European Commission President stressed that signing the agreement marks only a first step, underlining that its true success will be realized when citizens and businesses can feel its benefits on the ground, within the framework of a renewed strategic partnership between the European Union and Brazil. (end) arn.gb