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Brazil is the 10th largest economy in the world and the largest in Latin America. Its recent history can be divided into three main periods: one of economic stabilisation, which laid the foundations for economic growth; one of growth and reduction in inequality; and one of crisis, which has highlighted not only the country's strengths and potential but also its vulnerabilities. In 2018, after two years of economic crisis and several public corruption scandals, voters elected far-right Jair Bolsonaro ...

On 28 June 2019, the European Union and Mercosur reached a political agreement to establish an interregional trade agreement as ‘part of a wider Association Agreement between the two regions’. The European Commission and Mercosur member states went on to publish a summary of the negotiating results, while both sides started the process of legal revision. Meanwhile, the European External Action Service and Mercosur representatives were negotiating the political dialogue and cooperation part of the ...

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

In this study we analyse the provisions of the EU-Mercosur trade agreement (EUMETA) in its form presented by the European Commission. Our analysis covers the potential macroeconomic effects of the agreement that are based on the analysis of the extent of trade liberalisation through the lens of a computable general simulation model, as well as more detailed analysis of trade structure, tariff structure, non-tariff protection and the trade-related provisions of the agreement including trade in services ...

With an area of nearly 8.5 million km2 and a population of around 212 million (approximately twice the size of the EU with half the population), Brazil is Latin America's largest and most populated country, the biggest democracy (and, despite many observers' concerns over the current state of democracy) one of the freest countries) in the region. It is politically organised as a Federative Republic, formed by the Union, 26 states, 5 570 municipalities and the Federal District (Brasilia). The Brazilian ...

Amazon deforestation and EU-Mercosur deal

Mad-Daqqa t''Għajn 29-10-2020

After coming to a political agreement on the trade pillar of the three-pronged EU-Mercosur association agreement in June 2019, the EU and the four founding members of Mercosur (Argentina, Brazil, Paraguay and Uruguay) reached agreement on the political dialogue and cooperation parts in July 2020. However, as environmental deregulation and deforestation continue unabated in Brazil, opposition to the deal is growing. It is unlikely to be submitted to the European Parliament for consent in its current ...

For the largest tropical rainforest on Earth, an aggravated forest fire and deforestation regime in Amazonia put at risk the world’s richest biodiversity assets and a major climate regulator. For the EU27, it highlights the need to associate the question of embodied deforestation consumption by placing deforestation-free supply chains at the centre of negotiations surrounding the EU-Mercosur Association Agreement, given the volume of trade between these economic blocs in meat, leather, soy, coffee ...

Collectively, the 33 countries forming the Community of Latin American and Caribbean States (CELAC) are the EU's fifth largest trading partner. The EU has fully fledged agreements with two Latin American groupings (Cariforum and the Central America group), a multiparty trade agreement with three countries of the Andean Community (Colombia, Ecuador, and Peru), and agreements with Mexico and Chile that are in the process of being modernised. Furthermore, the EU has inter-regional and bilateral framework ...

On 28 June 2019, the European Union (EU) and the four founding members of Mercosur (the 'Southern Common Market') – Argentina, Brazil, Paraguay and Uruguay – reached an 'agreement in principle' on a free trade agreement (FTA) as part of a wider association agreement (AA). However, spurred by massive destruction of the Brazilian Amazon through large-scale forest fires, EU policy-makers and international environmental groups alike have since become increasingly vocal in expressing concerns about the ...

Globally, anti-trade sentiment is on the rise, meaning it is incumbent upon policymakers to explore and explain the benefits of free and open trade. This study examines the costs and benefits of various free trade agreements (FTAs) that the EU has completed, will complete, or is contemplating. With regard to completed FTAs, the EU has seen benefits in terms of consumer choice but has a much larger and positive impact on its partners (although not as much as ex-ante modelling would suggest). For forthcoming ...