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Uruguay sees EU-Mercosur deal as major opportunity requiring concerted effort
🇵🇾 Paraguay /Economy & Trade

Uruguay sees EU-Mercosur deal as major opportunity requiring concerted effort

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News From a news agency Context piece
  • Uruguay's Minister of Industry, Energy, and Mining stated that the EU-Mercosur trade agreement presents a significant historical opportunity for both blocs.
  • The agreement, provisionally in effect since May 1, requires "very concerted" and "surgical" work between countries and blocs, along with internal "listening" to national industries.
  • Uruguay aims to position itself strategically within the agreement, leveraging its geographic location between Argentina and Brazil as a potential gateway for European countries into Latin America.

Uruguay's Minister of Industry, Energy, and Mining, Fernanda Cardona, expressed optimism regarding the EU-Mercosur trade agreement, calling it a "great opportunity" for both parties. She emphasized that after more than 25 years of negotiations, the agreement's provisional entry into force on May 1 marks a historic moment.

I think it is a great opportunity. I want to see it as a great opportunity, first because it is a historic event, and because it finds us at a time when it can truly be a great opportunity for both blocs.

— Fernanda CardonaUruguay's Minister of Industry, Energy, and Mining on the significance of the EU-Mercosur agreement.

Cardona stressed that the pact necessitates "very concerted" and "surgical" collaboration between the European Union and the Mercosur member states – Argentina, Brazil, Paraguay, and Uruguay. Internally, each nation must engage in careful consultation with its domestic production sectors, which may have concerns about potential risks. Uruguay has established an inter-ministerial team to engage with industry and productive sectors to address these concerns.

It will require very concerted, very surgical work, between blocs and between countries.

— Fernanda CardonaMinister Cardona describing the necessary collaboration for the EU-Mercosur agreement.

She highlighted that the agreement provides timelines allowing for timely and intelligent positioning. "We have to prepare ourselves. I think that's the big issue," Cardona stated, emphasizing the need to anticipate future challenges and needs, particularly concerning food security, which she identified as a major issue for the region.

We have to prepare ourselves. I think that's the big issue.

— Fernanda CardonaMinister Cardona on the importance of preparation for the trade agreement's implications.

Cardona also noted Uruguay's unique role within the agreement due to its geographic location between Argentina and Brazil. She suggested this position could make Uruguay a "gateway" for Spain and other EU countries seeking access to the Latin American market. During her visit to Spain, she held productive meetings with Spanish ministers on topics including climate change, energy efficiency, electric mobility, and the digital economy.

Because we have to think about what is coming, what challenges we will have as countries, what needs we will have. The issue of food is and will be a big issue in our countries.

— Fernanda CardonaMinister Cardona discussing future challenges and the importance of food security.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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