🇪🇺European Weekly - EU-Mercosur, restrictions on Ukraine, and a historic migration deal
🇪🇺European Weekly - EU-Mercosur, restrictions on Ukraine, and a historic migration deal
EU turns it's focus to Mercosur, EU Extends Trade Restrictions on Ukraine, Voter participation looks set to increase for EP2024 elections, and the EU27 agree to “historic” migration deal
The European Weekly is your weekly update on major events in European politics, giving paid supporters of a quick and easy summary of this week’s big stories!
This week
🇪🇺EU turns focus to Mercosur
🌾EU Extends Trade Restrictions on Ukraine
🗳️Voter participation set to increase for EP2024
🤝EU27 agree to “historic” migration deal
🇪🇺EU turns focus to Mercosur
According to a leaked draft proposal, the European Union plans to prioritise trade deals with the Mercosur bloc of South America and build closer institutional ties with Latin America.
The initiative aims to reduce the EU's economic dependence on China and counter Russia by ensuring access to key Latin American resources such as copper, lithium, oil, and gas. The plan includes regular summits between the EU and the Community of Latin American and Caribbean States (CELAC), progress on pending trade agreements, and the global gateway strategy of the EU, a competitor of China's Belt and Road Initiative.
The EU's draft proposal also provides a roadmap for concluding free trade and partnership agreements with Latin American countries as soon as possible.
This includes improving ties with Brazil and Mexico, as well as reducing risks to critical raw material supply chains, including supply shortages due to the COVID-19 pandemic and energy shortages associated with Russia's invasion of Ukraine.