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Massive South American Deal.
EU and Mercosur agree huge trade deal after 20-year talks
EU Commission chief Jean-Claude Juncker said it was the EU's biggest deal to date and, at a time of trade tensions between the US and China, showed that "we stand for rules-based trade".
Brazil's President Jair Bolsonaro said it was "historic" and "one of the most important trade deals of all time".
Mercosur consists of Argentina, Brazil, Uruguay and Paraguay.
Venezuela is also a member but it was suspended in 2016 for failing to meet the group's basic standards.
https://www.bbc.co.uk/news/world-europe-48807161
EU Commission chief Jean-Claude Juncker said it was the EU's biggest deal to date and, at a time of trade tensions between the US and China, showed that "we stand for rules-based trade".
Brazil's President Jair Bolsonaro said it was "historic" and "one of the most important trade deals of all time".
Mercosur consists of Argentina, Brazil, Uruguay and Paraguay.
Venezuela is also a member but it was suspended in 2016 for failing to meet the group's basic standards.
https://www.bbc.co.uk/news/world-europe-48807161
Comments
That push has seen it implement a free trade agreement with Canada and reach agreements with Japan and Mexico and now, after 39 rounds of talks, also a provisional deal with Mercosur – the grouping of Argentina, Brazil, Paraguay and Uruguay.
The EU is already Mercosur’s biggest trade and investment partner and its second largest for trade in goods.
In terms of tariff reduction, it could be the EU’s most lucrative trade deal to date, with the savings potentially four times greater than for deals with Canada and Japan combined.
https://www.independent.co.uk/news/world/europe/eu-trade-deal-south-america-mercosur-a8980036.html