EU-Mercosur trade talks advance, final deal now close

Negotiations between the European Union and Mercosur in Brussels have advanced, and trade ministers from both blocs will start debating more sensitive market access issues on Wednesday. After many years of often fraught negotiations, the National Confederation of Industry expects some agreement to be reached by next Friday. Negotiators in Brussels are also optimistic, albeit moderately, as last-minute surprises can always occur. Mercosur sources say there is a preliminary agreement to grant Mercosur up to 15 years of tariff reductions in a range of products that includes machines, cars and auto parts. The EU would pay zero tariffs in up to seven years, but there’s still no consensus on the timeline. Mercosur also is not expected to allow exports of remanufactured products, sources say.


Source: Valor Econômico