00:01Brazilian President Luiz Ignacio Lula da Silva has said European leaders need political
00:06courage to reach the Mercosur-EU trade deal.
00:10During a meeting with the South American bloc at Foz do Iguazu on Saturday, he regretted
00:14the postponement by the EU of the agreement that would have created the largest free trade
00:19zone in the world.
00:21The EU presidency said on Friday that the long-awaited trade deal may now be signed
00:25on the 12th of January amid political concerns on the agricultural sector, particularly from
00:31France and Italy.
00:33Farmers argue that a flood of cheap agricultural imports produced under the more relaxed environmental
00:38and agricultural standards of South American countries will put them under too much pressure.
00:44If signed, the trade deal would cover a market of 780 million people and a quarter of the
00:50globe's gross domestic product.
00:52They would also progressively remove duties on almost all goods traded between the two
00:56blocks.
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