As China loses its importance as a destination for German exports, the euro zone’s biggest economy is looking for new markets for its products and services in Latin America and the Caribbean.
Negotiators for the European Union and Mercosur on Thursday discussed the next steps towards completing their long-awaited trade deal.
“All sides have a lot of interest in the agreement, and they should be now ready for a compromise,” said Uta Knott, Senior Manager for Latin America at the German industry association BDI. “A big opportunity would be missed if they don’t reach an agreement,” she told Reuters.
If I remember correctly, the primary people taking issue last time – at least on the EU end – were Irish and French beef farmers.
googles
Current reliance on beef could not be clearer. Ireland is the fifth largest beef exporter in the world and the largest in Europe. Ninety per cent of Irish beef is exported – a €3 billion business in annual revenues.
The prospect of an Argentinian steak selling in a French supermarket at 50 per cent less than the Irish equivalent is real.
https://www.rfi.fr/en/20180222-french-farmers-say-eumercosur-trade-deal-will-put-them-out-business
French farmers say EU/Mercosur trade deal will put them out of business
French farmers are getting ready to show off their cows and pigs and chickens at the annual agriculture fair in Paris, under the shadow of discontent. Beef farmers in particular are upset about a trade agreement currently being negotiated between the EU and the Latin American bloc, Mercosur. It’s an agreement they say will hurt their bottom line.
Despite finally reaching an agreement in 2019, it immediately became clear that ratification of the FTA would be unlikely, driven by a combination of agricultural protectionism and environmental worries on the part of a handful of EU capitals. Ireland, France, and Austria were among the first countries to announce their opposition to the FTA, and about half a dozen other EU capitals followed suit in promising not to ratify the 2019 version of the agreement. European farmers, especially in France, staunchly opposed the agreement, citing their inability to compete with South American agribusiness, especially in the areas of meat, sugar, and ethanol production.
Good, we don’t need brazilian beef and sugar from illegally cleared rainforest imported to Europe, meat is too cheap as it is and you cannot convince me that they would adhere to similar production standards (and ours are not high enough already)
This is the best summary I could come up with:
SANTIAGO DE COMPOSTELA, Spain, Sept 15 (Reuters) - As China loses its importance as a destination for German exports, the euro zone’s biggest economy is looking for new markets for its products and services in Latin America and the Caribbean.
“I would welcome that our meeting sends a signal that we can make rapid progress on the free trade agreement between the European Union and Mercosur,” Lindner said.
While Chinese policymakers try to revive growth, Latin America’s annual gross domestic product (GDP) has more than quintupled over the past thirty years, reaching $6.25 billion in 2022.
Latin America is high on the agenda," said Volker Treier, chief executive of foreign trade at the German Chamber of Commerce and Industry DIHK.
“All sides have a lot of interest in the agreement, and they should be now ready for a compromise,” said Uta Knott, Senior Manager for Latin America at the German industry association BDI.
She added that while Latin American countries can offer cheap hydrogen and renewable energies to Germany, South America is very interested in German technologies.
The original article contains 504 words, the summary contains 177 words. Saved 65%. I’m a bot and I’m open source!
