Today, the plenary of the European Parliament has voted in favour of a motion referring the ratification of the crucial EU-Mercosur agreement to the Court of Justice of the European Union (CJEU).
BusinessEurope Director General Markus J. Beyrer said:
“Today’s decision in the plenary of the European Parliament to refer the ratification of the EU-Mercosur agreement to the CJEU will unnecessarily delay the ratification of this landmark agreement, which is crucial for the position of the European Union in the world.
It is hard to understand this collective lack of responsibility in a geopolitical situation putting Europe under growing strain and at a moment when the urgent necessity to diversify our export and import markets could not be clearer.
After more than 25 years of negotiations, the swift ratification of the EU-Mercosur agreement would have been one of the best opportunities to show Europe’s capacity to act in the global arena and to reduce unhealthy dependencies.
Against this backdrop, BusinessEurope is deeply concerned about the consequences of yet another delay to an agreement of such economic and geopolitical decisiveness.
Recent studies have already highlighted the substantial cost of delaying the agreement’s entry into force. Between 2021 and 2025, the EU is estimated to have lost € 183 bn in exports and € 291 bn in GDP as a result of the agreement not being implemented. Any further delay will increase these losses at a moment when the European economy would urgently need additional growth opportunities.
BusinessEurope therefore urges all relevant decision makers to rapidly assess the different options and look for all possibilities to ensure the swift implementation of the EU-Mercosur agreement.”
To get more insights about the benefits that the EU-Mercosur agreement will provide to a wide array of business sectors, please click here.
