Delegation of the European Union to Brazil

EU and Mercosur reach agreement on trade

Bruxelles, 01/07/2019 - 14:27, UNIQUE ID: 190701_4
Press releases

The European Union and Mercosur - a bloc comprising Argentina, Brazil, Paraguay and Uruguay - reached a political agreement for an ambitious, balanced and comprehensive trade agreement on Friday 28 June.

The European Union and Mercosur - a bloc comprising Argentina, Brazil, Paraguay and Uruguay - reached a political agreement for an ambitious, balanced and comprehensive trade agreement on Friday 28 June. The new trade framework - part of a wider Association Agreement between the two regions – will consolidate a strategic political and economic partnership and create significant opportunities for sustainable growth on both sides, while respecting the environment and preserving interests of EU consumers and sensitive economic sectors. President of the European Commission Jean-Claude Juncker said: “I measure my words carefully when I say that this is a historical moment. In the midst of international trade tensions, we are sending today a strong signal with our Mercosur partners that we stand for rules-based trade. Through this trade pact, Mercosur countries have decided to open up their markets to the EU. This is obviously great news for companies, workers and the economy on both sides of the Atlantic, saving over €4 billion worth of duties per year. This makes it the largest trade agreement the EU has ever concluded. Thanks to the hard and patient work of our negotiators, this is matched with positive outcomes for the environment and consumers. And that’s what makes this agreement a win-win deal.” The agreement upholds the highest standards of food safety and consumer protection, as well as the precautionary principle and contains specific commitments on labour rights and environmental protection, including the implementation of the Paris climate agreement. For more information see the press release, MEMO, factsheets and exporter stories. (For more information: Daniel Rosario – Tel.: +32 229 56185; Kinga Malinowska – Tel: +32 229 51383)