European Union seeks new trade partners: Focus on agreements with India and Mercosur
European Union seeks agreement with India and Mercosur to reduce trade dependency
The European Union seeks agreement with India and Mercosur to reduce trade dependency Faced with growing trade protectionism from the United States under Donald Trump's presidency, the European Union (EU) is intensifying its efforts to diversify its trade partnerships. The President of the European Commission, Ursula von der Leyen, emphasized the need to pursue new opportunities beyond traditional partners, aiming to strengthen the bloc's economic position in a transforming global scenario.
In this context, the EU is prioritizing the conclusion of trade agreements with India and Mercosur. Negotiations with India were resumed in 2022, after a period of stagnation, with the aim of establishing a comprehensive agreement addressing issues such as market access and regulatory standards. Both parties demonstrate strong commitment to finalizing the agreement this year, considering it a significant strategic opportunity.
In parallel, Mercosur and India have maintained a Preferential Trade Agreement (PTA) since 2009, which offers mutual tariff concessions on a limited list of products. Recently, India's Minister of Commerce, Piyush Goyal, proposed exploring bilateral free trade agreements with Mercosur countries, aiming to expand and deepen trade relations between the parties.
The EU's search for new trading partners reflects a strategy of adaptation to changes in global dynamics, seeking to strengthen ties with emerging economies and diversify its trade relations in the face of protectionist policies from former allies.
In this scenario, a strategic opportunity presents itself for entrepreneurs and executives to establish alliances with organizations that possess robust international presence, such as Equity Investment Business, aiming to develop or expand their market potential. Through synergistic partnerships, we are equipped to convert innovative concepts into tangible ventures, economically viable and fully integrated into the globalized commercial ecosystem.
Sources consulted:
El País
Financial Times
Economic Times India