Mercosur-Efta trade agreement, 4.3 trillion area born

A free trade area of ​​300 million people and a total GDP of 4,300 billion dollars. This is the result of the trade agreement signed today between the group of Mercosur countries (Argentina, Brazil, Paraguay and Uruguay) with the EFTA area (European Free Trade Association, composed of Iceland, Liechtenstein, Norway and Switzerland).

This was reported in a statement issued today in the context of the Mercosur summit currently underway in Buenos Aires, which culminates negotiations that began in 2015.

"Both sides - the statement reads - will benefit from improved market access for more than 97% of their exports, which will translate into increased bilateral trade and benefits for businesses and individuals."

The treaty, the note continues, "will cover trade in goods, trade in services, investment, intellectual property rights, public procurement, competition, rules of origin, trade defense, sanitary and phytosanitary measures, technical barriers to trade, legal and horizontal issues, including dispute settlement, and a chapter on trade and sustainable development."

The States Parties have committed to ratifying the agreement "in the coming months of 2025", the statement concludes.