Business leaders call for "balanced" trade deal between Mercosur, EU

Brazilian and European business leaders gathered here on Wednesday to urge their governments to reach an "ambitious and balanced" trade agreement between Mercosur and the EU, and give first priority to the conclusion of the WTO Doha round talks.

The Fourth EU-Brazil Business Summit, held on Wednesday, was attended by executives of large companies and industry associations, who raised a number of suggestions to political leaders who gathered here for the Fourth Brazil-EU Summit.

Carlos Mariani, representing Brazil's National Confederation of Industry (CNI), presented a joint statement issued at the business summit to Brazilian President Luiz Inacio Lula da Silva, President of the European Commission Jose Manuel Durao Barroso, and President of the European Council Herman van Rompuy.

The business leaders expressed their concerns about recent developments in the global economy, and called for multi-lateralism in negotiations and coordination among the world's leading economies.

On the Mercosur-EU trade talks that resumed in May, the statement suggested that Mercosur, a bloc comprising Brazil, Argentina, Paraguay and Uruguay, and the EU seek to "conclude the bi-regional free trade agreement, without sacrificing the goals of ambition and balance."

Mercosur, or the Common Market of the South, is a bloc composed of Brazil, Argentina, Uruguay and Paraguay.

The statement said the conclusion of the Doha Round in 2010 "seems to be a difficult goal," and efforts are needed to reach a global agreement.

Lula said bringing the talks to fruition will be a high priority during his upcoming presidency of Mercosur, which begins in August.

He also emphasized that both Brazil and the EU support the efforts to keep the global trading system "open and governed by multilateral rules." 
(Source:xinhua)