On May 15, 2024, a focal seminar took place, co-organised by INSME, SIOI (the UN Agency of Italy), and ELEC Italy (European League for Economic Cooperation). Titled “The relationship between the European Union and Mercosur: trade, and politics”, this event brought together experts and stakeholders to delve into the intricate dynamics of trade negotiations, agricultural protests, and political challenges.
The EU-Mercosur Free Trade Agreement, finalised in 2019 after two decades of negotiations, was a focal point of the seminar. This agreement is set to create a massive market of 780 million consumers and is projected to benefit the EU economy by an estimated €11-15 billion through 2032. Additionally, it holds considerable geopolitical significance.
Despite the economic potential, the agreement has sparked significant debate due to its environmental and social implications. Concerns were raised by the speakers on the pressure on land resources and deforestation in the Amazon, exacerbated by the agreement’s vague Trade and Sustainable Development chapter, which many believe fails to adequately address these issues.
INSME President Sergio Arzeni chaired and closed the meeting, together with colleagues Prof. Paolo Garonna and H.E. Riccardo Sessa underscoring its significance in these years of shifts and novelty. The seminar featured a robust discussion on how free trade agreements can be leveraged for the common good and the strategic approaches necessary for sustainable economic integration.
Source: INSME Secretariat
