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International Business Times
International Business Times
Business

Fate Of Major Trade Deal With EU Hangs Over Mercosur Summit

Former Argentine president Cristina Kirchner is seeking permission to receive a visit under house arrest from Brazilian President Luiz Inacio Lula da Silva (Credit: AFP)

The fate of a landmark trade deal with the European Union, which France is trying to block, looms large over a summit this week of South America's Mercosur bloc.

Brussels in December struck a deal with Mercosur's founding members -- Argentina, Brazil, Paraguay and Uruguay -- which would allow the EU to sell more vehicles, machines and pharmaceuticals to South America in return for allowing in more meat, sugar, rice and soybeans from the region.

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