The European Union and Mercosur may sign a trade agreement in 2018, Bulgaria’s Deputy Premier and Minister of Foreign Affairs Ekaterina Zaharieva said, quoted by Reuters. During the last round of negotiations held in April this year the EU and Mercosur made a progress on the export of automobiles. However, the EU and Mercosur failed to conclude a political agreement at the end of 2017 as originally planned due to differences on the export of agricultural produce from South America. Mercosur is a South American trade bloc. Its full members are Argentina, Brazil, Paraguay and Uruguay. The bloc’s purpose is to promote free trade and fluid movement of goods, people and currency.
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