President Luiz Inácio Lula da Silva said on Wednesday that Brazil has not backed down from the strategy to enable the signing of the trade agreement between Mercosur and the European Union. According to him, the Brazilian government is “ready” to sign the treaty.

Additionally, Lula mocked France’s opposition to the formation of the trade bloc. “We haven’t gone back; we’ve never progressed as much as we are now. The difficulties we faced have been resolved, and today we are ready to sign.

The problem is that France is raising issues with its local products. But my reassurance is that the European Union doesn’t need France’s vote to make the agreement,” he said.

Lula discussed the matter alongside Spanish Prime Minister Pedro Sánchez, who made a State visit to Brazil on Wednesday.

During the interview, the Brazilian president argued that both blocs “need the agreement,” and it is no longer a matter of “liking or not liking” the proposal.

“I deeply regret not having signed this agreement when Sánchez was president of the Council of the European Union, but I believe we will still sign it. The European Union and Mercosur need this agreement; it’s no longer a matter of liking or not. We need to send a signal to the world that we want to move forward,” added Lula.

The Brazilian president’s statements are in the opposite direction to what is being advocated by French President Emmanuel Macron. Recently, Macron argued that the European Union should end negotiations with Mercosur. In his opinion, it is “impossible” to conclude negotiations for a free trade agreement between the blocs.

Lula stated that Brazil can offer Spanish entrepreneurs interested in investing in the country a society with “purchasing power to buy products,” as well as political, fiscal, legal, and economic stability. According to him, Spanish companies deciding to invest in Brazil can “know” that they will not only profit but also “take dividends” for their partners.

Finally, Lula argued that Brazil is now an international creditor, including to the IMF, and has a reasonable international reserve. I received the president of the IMF here, the director of Citibank, the director of the Asian Infrastructure Investment Bank, all with the prospect of investing in Brazil. I won’t even comment on the figures to avoid causing jealousy to my colleague Pedro Sánchez,” he joked, eliciting laughter from the Spanish businessmen.