EU-Mercosur trade agreement finally concluded
“The agreement provides an urgently needed growth impetus for the German and European economy and brings excellent news for our companies. By removing significant trade barriers, it will enable European businesses to save approximately four billion euros annually in tariffs.
Free trade with the Mercosur states offers substantial benefits to all EU member states. The agreement establishes one of the world’s largest trading markets, encompassing over 750 million people, representing around 20 percent of the global economy, and accounting for 31 percent of global exports.
The EU-Mercosur trade agreement presents an enormous opportunity to diversify access to critical raw materials such as lithium and copper, which are essential for key industries such as electromobility and renewable energy.
In times of growing global trade fragmentation, this trade agreement sends a clear and strategic message in support of free and rules-based trade. Strengthening collaboration with reliable partners is both highly important and urgently needed for the EU.”