It has been 20 years since Mercosur – the trade bloc that includes Brazil, Argentina, Uruguay, and Paraguay (and soon Bolivia) – first entered into negotiations over a free trade agreement with the European Union. The delay is owing to a number of obstacles that seem impossible to overcome, notably geographical indications for various food and drink products. Beef, cars, and access to the ethanol market also spark tensions on both sides of the Atlantic.
“The EU has not yet figured out what it wants from Latin America,” said a recent report by the Elcano Institute, a Spanish think tank.
Enough is enough – at least for Argentina and Uruguay.