Brazil and Italy call for an Mercosur-EU agreement 'as soon as possible': Video

Presidents of Brazil and Italy urged on Monday for Mercosur and the European Union (EU) to swiftly finalize a long-delayed trade agreement, amidst resistance from certain EU member states.

Following their meeting at the Planalto Palace in Brasilia, Brazilian President Luiz Inácio Lula da Silva reiterated his country's eagerness to achieve a balanced agreement with the EU that supports mutual development.

"As I did at the recent Mercosur Summit in Asunción [Paraguay], I reiterated to the Italian president Brazil's interest in concluding, as soon as possible, an agreement with the European Union that is balanced and contributes to the development of both regions. I explained that progress in the negotiations depends on the Europeans resolving their own internal contradictions," Lula said

President Mattarella also it is essential to quickly reach a historic decision between two great realities of cooperation and peace, such as Mercosur and the European Union.

The two blocs have been negotiating a free trade agreement for more than two decades that plans to eliminate most of the tariffs between the two zones, which would create a commercial space for more than 700 million consumers.

The agreement is resisted by some European countries, mainly France, whose agricultural sector fears competition from South American agricultural products. "Measures such as the carbon tariff unilaterally imposed by the European Union could affect five of the ten Brazilian products most exported to the Italian market," Lula said.