The Mercosur countries, Brazil, Argentina, Paraguay, and Uruguay, and the EU are working on a trade deal after reaching an agreement in principle in 2019.
But the ratification of the agreement by the 27 member states of the European Union has stalled, mainly due to European concerns about the environmental protection of the Mercosur countries, especially in the Amazon forests.
The EU wants any agreement to include compliance with the commitments made as part of the 2015 Paris climate accords.
The Mercosur summit will bring together the presidents of Argentina, Brazil, Uruguay, and Paraguay, who will take up the bloc’s pro-tempore presidency until the end of the year.
The Mercosur countries, Brazil, Argentina, Paraguay, and Uruguay, represent 62% of South America’s population and 67% of the continent’s GDP.
