THE MERCOSUR-EUROPEAN UNIOS STRATEGIC ASSOCIATION AGREEMENT: THE NEW ERA OF FREE TRADE IN TIMES OF DEGLOBALIZATION

The MERCOSUR-European Union strategic Agreement is signed at a time of crisis in multilateralism as a result of globalization. The process of strategic association between these blocs has been the most complex, extensive and controversial in the history of economic integration. Despite its great commercial impact and its commitment to promoting foreign investment, it does not include Investor-State dispute settlement methods or references to the new court investment system for Bilateral Intra-Community Investment Protection Treaties. Here the most relevant aspects of the integration process and the regulatory framework that will govern the relations between blocks are analyzed. Brazil's position as the regional leader of MERCOSUR, the community's rejection of intra-European Union arbitration and its proposal to create investment courts raise doubts regarding the entry into force of the Agreement.