EU, Mercosur Prepare to Revamp Trade Talks in May

The EU and Mercosur are set to ramp up their long-struggling trade talks, with officials from both sides confirming plans to exchange market access offers in goods and services during the second week of May. The news, confirmed in early April by EU Trade Commissioner Cecilia Malmström and Uruguayan Foreign Minister Rodolfo Nin Novoa, has fuelled a renewal of interest – and controversy – over the talks, which were first launched in 1999. Uruguay is the current holder of Mercosur’s rotating presidency, with the South American customs bloc also counting among its members Argentina, Brazil, Paraguay and Venezuela. Venezuela, however, is not current part of the trade talks, given its relatively recent entry into the Mercosur group. (See Bridges Weekly, 4 July 2012 ) Part of a broader effort to set up a region-to-region Association Agreement, the trade talks were re-launched almost six years ago, after having stalled in 2004. Since then, nine negotiation rounds have taken place; however, no formal rounds have been held in over three years. (See Bridges Weekly, 31 October 2012 ) The possibility of another re-boot, however, has been the source of significant speculation in recent weeks, particularly in the wake of Mauricio Macri’s assumption...