In June 1999, heads of government from the European Union descended on Rio de Janeiro to meet their counterparts in South America to strengthen relations between the two regions, “based on deep historical, political, economic and cultural links, as well as on common values”. The summit on June 28, 1999 led the EU and the Mercosur trading bloc to launch “bilateral, gradual and reciprocal trade liberalisation” in what would be a significant move for trade between the two blocs. Twenty-five years later and that trade deal has still not passed the finish line. The Mercosur – Brazil, Argentina, Paraguay and…

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