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South America’s Mercosur bloc signs trade deal with 4 European countries
The agreement covers trade in goods, services, and investment, improving market access for over 97% of exports and creating opportunities for small and medium-sized enterprises, officials said.
- South America's Mercosur bloc signed a free trade deal with the European countries of Iceland, Liechtenstein, Norway and Switzerland, covering goods, services, investment and intellectual property rights.
- The deal creates a free trade zone of almost 300 million people and a combined GDP of over $4.3 trillion, with potential price drops for products like Swiss chocolate and Norwegian cod in South America, and cheaper beef in Europe.
- Mercosur also hopes to soon ratify a larger free trade deal with the European Union, which increased in importance for Brazil after U.S. tariffs led to a push to diversify trading partners.
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"In a world marked by commercial tensions and by growing protectionism, we continue to defend international trade based on rules," says the head of Brazilian diplomacy, celebrating the treaty.
·Portugal
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Mercosur, EFTA sign FTA in Rio de Janeiro
The Southern Common Market (Argentina, Brazil, Paraguay, and Uruguay) and the EFTA states (Iceland, Liechtenstein, Norway, and Switzerland) signed a Free Trade Agreement (FTA) on Tuesday in Rio de Janeiro, Brazil, creating a zone of nearly 300 million people with a combined GDP of over US$4.3 trillion.
·Caracas, Venezuela, Bolivarian Republic of
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With the free trade agreement, the Swiss economy can save 180 million Swiss francs per year in tariffs, says Parmelin.
·Zürich, Switzerland
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Coverage Details
Total News Sources24
Leaning Left6Leaning Right2Center6Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
Factuality
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