MADRID, 7 Feb. Trade Commissioner of the European Union, Karel De Gucht, will visit Paraguay and Uruguay this week in a bid to push forward the talks resumed last year between the EU and the Southern Common Market (Mercosur) to negotiate a trading partner agreement, contacts that were suspended from 2004 until last May.
De Gucht said on Monday that negotiations will move towards the middle of this year but believes it will conclude in 2011. The commissioner will meet with his counterparts and senior officials of both countries in a visit that will run from 7 to 9 February, as reported by American media.
Both blocks last year relaunched the negotiations that were stalled for six years, seeking to create a free trade zone of 750 million consumers and commercial goods valued at 65,000 million euros (82,000 dollars) per year, states Reuters. Brussels in May 2010 announced the resumption of contacts and justified by the "clear economic benefits" that will bring the EU a trade agreement with South America.
According to his calculations, the pact would have annual economic benefit of 4,500 million euros in the form of increased exports to the 27. During a visit to Paraguay, the country holding the presidency of Mercosur (Argentina, Brazil and Uruguay are the other members of the block), De Gucht said the proposals in the next round of talks scheduled for March in Brussels will give more strength to negotiations.
"I do not think it entirely possible to complete negotiations by mid of this year (...) I just do not put an exact date the final agreement but we are continuing our negotiations to a regular pace," the official said at a meeting with journalists in Asunción. "At what point is reached a conclusion we can not know, but we'll work this with all possible speed," he added and said a free trade agreement "ambitious and balanced" between the EU and Mercosur will contribute to the "recovery "and bring economic benefits" substantial "to both parties.
The objective of the EU in trade negotiations is to achieve an agreement "comprehensive and ambitious" expand the coverage of products and services to be liberalized, and note the "sensitive" items in each market. He also wants to establish a mechanism "effective and binding" dispute resolution to help resolve trade disputes between the two regions and ensure adequate protection of intellectual property rights and industrial and designations of origin. 
De Gucht said on Monday that negotiations will move towards the middle of this year but believes it will conclude in 2011. The commissioner will meet with his counterparts and senior officials of both countries in a visit that will run from 7 to 9 February, as reported by American media.
Both blocks last year relaunched the negotiations that were stalled for six years, seeking to create a free trade zone of 750 million consumers and commercial goods valued at 65,000 million euros (82,000 dollars) per year, states Reuters. Brussels in May 2010 announced the resumption of contacts and justified by the "clear economic benefits" that will bring the EU a trade agreement with South America.
According to his calculations, the pact would have annual economic benefit of 4,500 million euros in the form of increased exports to the 27. During a visit to Paraguay, the country holding the presidency of Mercosur (Argentina, Brazil and Uruguay are the other members of the block), De Gucht said the proposals in the next round of talks scheduled for March in Brussels will give more strength to negotiations.
"I do not think it entirely possible to complete negotiations by mid of this year (...) I just do not put an exact date the final agreement but we are continuing our negotiations to a regular pace," the official said at a meeting with journalists in Asunción. "At what point is reached a conclusion we can not know, but we'll work this with all possible speed," he added and said a free trade agreement "ambitious and balanced" between the EU and Mercosur will contribute to the "recovery "and bring economic benefits" substantial "to both parties.
The objective of the EU in trade negotiations is to achieve an agreement "comprehensive and ambitious" expand the coverage of products and services to be liberalized, and note the "sensitive" items in each market. He also wants to establish a mechanism "effective and binding" dispute resolution to help resolve trade disputes between the two regions and ensure adequate protection of intellectual property rights and industrial and designations of origin.
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