EU Seeks Free Trade Accord With Latin America

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Last updated at: (Beijing Time) Saturday, June 01, 2002

EU Seeks Free Trade Accord With Latin America

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The European Union (EU) has the political will to sign free trade and cooperation agreements with Latin America, including the Southern Common Market (MERCOSUR), Central America and the Andean Community (CAN), after it reached such an accord with Mexico and Chile separately. In a roundtable meeting Friday, Fernando Cardesa, director of EU cooperation with Latin America, said the European bloc has set the signing of free trade and cooperation agreements with all Latin American nations as a political goal.

He said an agreement could be reached this year with MERCOSUR, which is composed of Argentina, Brazil, Paraguay and Uruguay, but the process with other blocs could be more complicated.

About the CAN and Central America, Cardesa said the two blocs' integration problems and their negotiations with the World Trade Organization will complicate the process to reach an agreement.

During the EU-Latin America/Caribbean Summit, held this month in Madrid, Spain, the European Union and Chile signed an unprecedented free trade agreement.

The free trade agreement between the EU and Mexico came into effect on July 1, 2000.

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