What Is The Mercosur Agreement

It remains to be seen whether it should also pass scrutiny of EU national parliaments. Even without reopening the text of the agreement, “there are some issues that we need to clarify and that we can clarify,” Altmaier said after a meeting of EU trade ministers in Berlin. This agreement establishes the largest free trade area ever created by the EU (affecting 780 million people), liberalises 99% of the EU`s agricultural trade and opens up the Mercosur market to 88% of the Community`s agricultural products and 91% of its total exports. Although they offer benefits to EU producers and businesses, many sectors fear the entry into force of the agreement as it improves access to the European market for large agricultural companies such as Brazil or Argentina. The resumption of negotiations on the controversial Mercosur agreement and trade policy with the United States are among the priorities of the German Presidency of the Council of the EU. It is unlikely that other Member States will like it. EURACTIV Germany reports. Find out how the EU-Mercosur trade deal would help small businesses already exporting to global transformative companies. The scope of the agreement is very broad. [9] In addition to tariffs, it includes rules of origin, trade remedies, sanitary and phytosanitary (SPS) measures, technical barriers to trade (TBT), services and investment liberalization, competition policy, subsidies, state-owned enterprises, trade and sustainable development.

This includes improving access to public procurement and intellectual property rights, including “geographical indications” or the protection of regional food specialities. [2] Legal safeguards are introduced to protect 357 European food and beverage products against counterfeiting, including Prosciutto di Parma and Fromage de Herve. [3] Customs procedures will also be simplified under the Agreement. [7] The agreement will reduce and eliminate discrimination and expand opportunities for service providers and investors in the EU and Mercosur. .