Spanish Prime Minister summarizing the trade agreement with Mercosur: “The EU offers capital and technology in exchange for raw materials and water”

(Sputnik) – Spanish Prime Minister Pedro Sanchez, whose country will hold the presidency of the European Union for the next six months, expressed his hope on Monday (17) that the trade agreement between Brussels and the South American trade bloc Mercosur will be concluded by the end of 2023.

“After more than 20 years of negotiations, we believe we now have an opportunity to ratify it in the second half of 2023,” Sanchez said at the opening of a business roundtable between the European Union and the Community of Latin American and Caribbean States. (silak).

The meeting of the Committee took place in Brussels prior to the summit of the European Union and the Community of Latin American and Caribbean States. The meeting was attended by European Commission President Ursula von der Leyen and Brazilian President Luiz Inacio Lula da Silva.

Sanchez told the meeting of European and South American investors that Spain considers the trade agreement between the two regions very important. They complement each other, he said, with the EU offering capital, technology and know-how in exchange for “energy, abundant raw materials, sun, fertile soil and water” to Mercosur.