European industry leaders, represented by EURATEX and 22 industry associations, have urgently appealed to the EU Presidents in a joint letter to expedite the finalization of trade negotiations with Mercosur. The letter, addressed to Presidents Metsola, Michel, and von der Leyen, emphasizes the time-sensitive nature of reaching an agreement. The associations, spanning diverse sectors from manufacturing to food-related industries, stress the potential economic benefits of the EU-Mercosur deal.

The proposed agreement is deemed crucial for enhancing economic integration, diversifying value chains, and bolstering the competitiveness of European export-oriented sectors, which contribute significantly to job creation and the well-being of citizens. Positioned as an opportunity for the EU to establish a first-mover advantage with one of the world's largest economies, the deal aims to dismantle trade barriers and open up Mercosur's market with over 270 million consumers.

Given the EU's reliance on external sources for key raw materials and the anticipated global growth outside the EU in the coming decade, the agreement is framed as an economic, social, and geopolitical imperative. The industry leaders emphasize the agreement's role in maintaining a robust industrial structure, safeguarding jobs, and supporting the EU's green and digital transition.

Acknowledging environmental concerns, the letter underscores the EU-Mercosur agreement as a mechanism to collaborate on maintaining the Mercosur region's sustainable development commitments, including the prevention of illegal deforestation. The industry leaders call on European leaders to swiftly conclude and ratify the agreement, emphasizing its significance in the face of economic challenges and the need for strategic partnerships.