EU and Mercosur agree to advance trade talks

EU and Mercosur agree to advance trade talks

This exchange will specify the ways to increase mutual openness to each other’s goods and services, including in public tenders. The meeting today also resulted in the adoption of a roadmap for talks during the rest of the year.

Following the meeting, Cecilia Malmström, EU Commissioner for Trade, said: “I am glad we can now move forward with these longstanding negotiations. Europe has strong economic and political links with Latin America. Enhancing trade conditions between the EU and the countries of Mercosur would bring important economic benefits to our economies. Both sides are strongly committed, so I trust that the upcoming exchange of offers will allow us to successfully resume these talks towards an ambitious and comprehensive deal.” Intense negotiations between the EU and Mercosur took place between 1999 and 2004. After an unsuccessful exchange of market offers in 2004, the negotiations were halted for six years. Since the resumption of negotiations in 2010, nine negotiation rounds have taken place, preparing the work for a new exchange of offers soon. Renewed political support by Mercosur countries and EU Member States will pave the way for new rounds of negotiations this year. The EU’s exports to the region have steadily increased over the last few years, making Mercosur the EU’s 6th most important export market. EU-Mercosur trade in goods amounted to over EUR 88 billion in 2015. The EU is Mercosur’s first trading partner, a major provider of commercial services, as well as the biggest foreign investor in the region. EU companies pay over EUR 4 billion in tariff duties annually when exporting to the Mercosur countries.

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