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Brazil’s rising prosperity has led it to consider pushing for its own free trade deal with the EU, after years of struggling to reach one alongside its neighbours.

Latin America’s largest economy has been trying to forge an EU agreement since 1999, in conjunction with the four other members of Mercosur, the world’s fourth-biggest trade bloc. The other members are Ar石家庄哪家看癫痫最好gentina, Venezuela, Paraguay and Uruguay.

The move has become urgent for Brazil, however, because it has been reclassified as an upper-middle income country, meaning it loses EU trade preferences next year. The only way to regain them is with a trade deal.

Brazil plans to present a proposal this month for a Mercosur-EU trade deal that would allow it to move ahead with its own agreement, Antonio Patriota, Brazilian foreign minister, told the Financial Times last week. “There are objective conditions that create strong incentives for an advance on the EU-Mercosur front,” he said.

But there is also “anticipation that each [Mercosur] country may be able to negotiate at separate speeds”.

The deal would cover $80bn of 昆明到哪里治癫痫好bilateral trade between the EU and Brazil, whose trade with the EU accounted for 37 per cent of the European bloc’s total Latin American trade in 2011, according to the European Commission.

World Trade Organisation rules allow countries to have different external tariffs within a free trade area. Still, Brazilian officials stress they remain firmly committed to Mercosur, and pursuing separate trade agendas will only take place within the group.

A move by Brazil to negotiate apart from Mercosur, which has a combined gross domestic product of more than $3tn, reflects Brazil’s attempts to boost its economy after just 0.9 per cent growth last year, as well as a changing global trade landscape.

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