The common market will integrate 300 million people
The free trade agreement between Mercosur (Argentina, Brazil, Uruguay and Paraguay) and the European Free Trade Association (EFTA), an economic block made up of Switzerland, Norway, Iceland and Liechtenstein, should be signed on Tuesday (16). The treaty, negotiated since 2017 and ended last July in Buenos Aires, creates an integrated market of about 300 million people and a gross domestic product (GDP) estimated at 4.3 trillion dollars.
The signature, which will take place at Palazzo Itamaraty, in Rio de Janeiro, during a meeting of the Mercosur foreign affairs ministers, marks the conclusion of a 14 -year negotiation process, which lasted eight years.
The agreement will eliminate or reduce rates on almost all the commercial flows of those involved, including essential agricultural products such as Brazilian chicken meat and Argentine beef, as well as Norwegian salmon.
In a joint declaration, marking the implementation of the measure, the parties stressed that the treaty covers “97% of exports between the two blocks”. .
Source: Terra
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