Progress on trade talks between the European Union and Latin America is moving ahead, with both sides hopeful that a final deal will be reached by the October deadline. Brazil is taking the lead for Latin American countries, which include those in the Mercosur trade bloc. Mercosur includes Brazil, Argentina, Uruguay, and Paraguay. In addition, Chile, Bolivia, Colombia, Peru, and Venezuela are in various stages of negotiations for Mercosur membership.

Trade experts say that Brazil seems to be taking a more conciliatory approach in these talks, which contrasts those held previously with the U.S., especially concerning the Free Trade Area of the Americas. Indeed, Europe's agricultural subsidies, which have traditionally been a sticking point in similar discussions, are not even part of the current negotiations. For its part, the EU is expected to improve market access for commodities such as meat, sugar, coffee, and dairy products, all of which are significant exports for Brazil and Argentina.