Ursula von der Leyen announced the end of the EU negotiations on the Mercosur agreement.
Mercosur is a customs union founded in 1991 by South American countries: Argentina, Brazil, Uruguay and Paraguay. Trade between these countries is tax-free and uniform tariffs apply to external goods. In 2012, Venezuela joined Mercosur. Associate members include: Bolivia, Guyana, Peru, Colombia, Ecuador, Chile and Suriname.
For more than twenty years, Mercosur has been trying to sign an agreement with the EU on a free trade area. This will result in a reduction in customs duties and the ability to enter the EU market with your goods.
According to the head of the European Commission, the agreement could be finalized soon. “We have completed negotiations on the agreement between the EU and Mercosur. This is the beginning of a new story. Now I look forward to discussing this with the EU countries,” Ursula von der Leyen wrote on social media.
As he further assures, the agreement will be beneficial for citizens and businesses. “More jobs. More choices. Shared prosperity,” he argues.
Previously, the German politician argued that the EU has a chance to create a market of 700 million people. “The world’s largest ever trade and investment partnership. Both regions will benefit,” she said
European Union – Mercosur Agreement
The EU’s free trade agreement with Mercosur countries, which could be concluded later this year, will allow cheaper agricultural products from Latin America to be imported into Europe. Opponents of this agreement are sounding the alarm because it is essentially about the collapse of European agriculture, to make room on the continent for cheaper food from outside the continent, which is not subject to the regulations in force in the European Union .
– Poland will not accept the agreement with the Mercosur group in the field of agriculture – Prime Minister Donald Tusk announced last week during a government meeting.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
