In Mercosur summit, Lula advocates for a common trade currency and a "strong" response from the bloc to EU demands

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247 - President Luiz Inácio Lula da Silva delivered a speech on Tuesday (4) during the meeting of heads of state of Mercosur, which took place in the Argentine city of Puerto Iguazú. In his address, the Brazilian president once again advocated for the use of a common currency in the region to facilitate trade and criticized the demands of the European Union for the trade agreement between the blocs.

"The adoption of a common currency to carry out settlement operations between our countries will contribute to reducing costs and further facilitating convergence. I am referring to a specific reference currency for regional trade that will not eliminate respective national currencies," said President Lula.

Regarding the agreement with the EU, Lula stated that he is committed to its conclusion, provided it is "balanced." "I am committed to the conclusion of the Agreement with the European Union, which must be balanced and ensure the necessary space for the adoption of public policies in favor of productive integration and reindustrialization," he declared.

"The Additional Instrument presented by the European Union in March of this year is unacceptable. Strategic partners do not negotiate based on mistrust and threat of sanctions. It is imperative that Mercosur presents a swift and forceful response. It is unacceptable to give up State purchases - one of the few instruments of industrial policy that we have left," said Lula. "We have no interest in agreements that condemn us to the eternal role of exporters of raw materials, minerals, and oil."

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