EU-Mercosur trade deal not likely this year – source

The European Union and South American bloc Mercosur are unlikely to reach agreement on a trade deal this year because EU negotiators want to wait until next year to discuss improved offers, a source close to Mercosur negotiators said.

The official said new offers were exchanged on Tuesday in talks on the sidelines of the World Trade Organization meeting in Buenos Aires, though they did not include improved EU offers on beef and ethanol sought by Mercosur.

“The EU said it was not in a position to reciprocate and would be better able to respond next year,” the source said, requesting anonymity due to the sensitivity of the talks.
Source: Reuters (Reporting by Luc Cohen; Writing by Anthony Boadle, editing by Rosalba O’Brien)