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Brazil’s Lula says EU-Mercosur agreement to be finalized by year-end. Lula made the remarks during his speech at the opening of the two-day EU-CELAC summit in Belgium, which was also attended by European Commission President Ursula von der Leyen, Spanish President Pedro Sanchez and the presidents of the Inter-American Development Bank (IDB) and the Development Bank of Latin America and the Caribbean (CAF). ”The European Union is Brazil's second-largest trading partner. Our trade flow could surpass the $100 billion mark this year,” he said. Both sides had wavered over the free trade agreement since 1992, officially ending negotiations in 2019 during the first year in power of former Brazilian President Jair Bolsonaro. The right-wing leader's policies on the Amazon pushed the European bloc into hesitance, which postponed the deal's ratification. The new legal framework now embedded in the trade agreement was condemned by Lula, who criticized the initiative for limiting Brazil's agricultural and industrial exports. Calling for a deal that fostered the region's reindustrialization, the Latin American leader demanded Europe move away from trade agreements anchored in mistrust and threats of economic sanctions. …