Almost unnoticed, in today’s cabinet meeting, the European Commission put forward a trade agreement between the EU and the Latin American trade bloc Mercosur, finally opening a market of opportunity of more than 700 million people. After years of negotiations, including political and interinstitutional quarrels between the EU and its member states, and a careful calibration of the agreement, this is good news.
However, the future of the agreement continues to remain unclear, despite the Commission putting forward a text split up between its political and commercial parts, with ‘only’ a qualified majority required in the Council and a simple majority in the European Parliament. Nevertheless, at this point in time now, it was indeed the right decision to show determination, even if there is still a risk of failure further down the line.
Reason is that what is instead making the headlines right now, is an endless stream of news about a world not looking in favour of European interests in both geoeconomic and geopolitical terms: Europeans struggling to secure a seat at the table on the future of Ukraine and their very own security order; Europeans looking weak in withstanding the pressure of President Trump’s trade policy, exposing vulnerability even where it once possessed real power.
Meanwhile, in China, this week’s high-level meeting of the Shanghai Cooperation Organisation, including Prime Minister Narendra Modi of India and President Vladimir Putin of Russia, appeared like progress in the global battle of narratives by sending a message of the dawn of a new era in the global distribution of power.
At home, Europeans look sheepish by comparison, but they still have the chance to step up. Today’s move on the EU-Mercosur agreement was a move in the right direction.
Almut Möller is Director for European and Global Affairs and head of the Europe in the World programme at the European Policy Centre.
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