The agreement will create the necessary conditions for European consumers to choose from a wider and more affordable range of products and services. A new Trade Sustainability Impact Assessment (AIS) is being prepared to assess the economic, social, environmental and human impact of an EU-Mercosur trade agreement. An independent contractor shall carry out the study. “Some haven`t really read the deal and have circulated rumors, misinterpretations that scare people,” she said. Following the adoption and publication of the “agreement in principle” of 17″, on 1 July 2019, 29 unfinished texts of chapters and annexes of the trade agreement were published in July and September, with the exclusion of liability, that they “have been published only for information purposes and may be subject to further amendments, in particular as a result of the legal review process”. The main plans for the liberalization of goods, services and investment have not yet been published.  In the meantime, negotiations on the other parts of the EU-Mercosur Association Agreement continued and concluded on 18 June 2020 with an agreement on the pillars of political dialogue and political cooperation, the preamble and the institutional and final provisions.  This text has not yet been published by the official authorities, but has been disclosed by Greenpeace.  Greenpeace denounced the fact that obligations to protect nature or combat the climate emergency, as defined in the UNFCC Paris Agreement, are not included in the conditions under which one of the parties can sanction the other in a partisan manner or suspend the agreement.  Before the authorisation procedure can begin, the legal language of the text must be corrected and translated into all EU languages. This process has been underway for several months. The European Commission must then present a proposal to be presented with a view to a Council decision on the signing of the agreement. This could be done at the earliest at the Foreign Affairs Council meeting on 9 November 2020.
Since the trade agreement is part of the Association Agreement, this requires the unanimous approval of the Council before it can be submitted to the European Parliament for approval. This trade deal “doesn`t mean we agree with all the policies of these countries, but it`s a way to anchor Brazil in the Paris Agreement,” Malmstrom said. The EU has already concluded trade agreements with almost all other Latin American countries. The agreement with the Mercosur countries allows us to further extend preferential access to EU exporters and to strengthen our political relations with all Latin American countries. The agreement came after twenty years of negotiations. The agreement encourages investments from the financial sector, including the European Investment Bank, but it is not necessary for these investments to meet sustainability criteria, leaving the door open to financing climate-harmful industrial agriculture and the destruction of vital natural habitats. . .