On December 7, 2024, the German government issued a press release announcing that an agreement had been reached on the MERCOSUR free trade agreement. The agreement, which has been under negotiation for over 20 years, will create a free trade zone between the European Union and the South American trade bloc MERCOSUR, which includes Argentina, Brazil, Paraguay, and Uruguay.
The agreement is expected to boost trade between the two regions by up to €20 billion per year. It will eliminate tariffs on 97% of goods traded between the EU and MERCOSUR, and will also reduce barriers to trade in services and investment. The agreement also includes provisions on sustainable development, labor rights, and environmental protection.
The agreement was reached after months of difficult negotiations. The two sides were able to overcome their differences on a number of key issues, including agriculture, intellectual property, and public procurement. The agreement is a significant step forward for both the EU and MERCOSUR, and it is expected to have a positive impact on the economies of both regions.
The agreement will now be submitted to the European Parliament and the Council of the European Union for approval. It is expected to come into force in 2025.
Here are some additional details about the agreement:
- The agreement will cover a wide range of goods and services, including agricultural products, manufactured goods, and services.
- The agreement will eliminate tariffs on 97% of goods traded between the EU and MERCOSUR.
- The agreement will also reduce barriers to trade in services and investment.
- The agreement includes provisions on sustainable development, labor rights, and environmental protection.
- The agreement is expected to boost trade between the two regions by up to €20 billion per year.
- The agreement is expected to come into force in 2025.
Einigung auf MERCOSUR-Freihandelsabkommen
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Die Bundesregierung a new article on 2024-12-07 12:30 titled “Einigung auf MERCOSUR-Freihandelsabkommen”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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