Mercosur- European Union Agreement

By Pittaluga Abogados

Mercosur managed, in Brussels, to conclude negotiations for the signing of a Strategic Partnership Agreement with the European Union, an unprecedented agreement for both blocks and one of the most important in history worldwide.

The Strategic Partnership between Mercosur and the European Union implies the integration of a market of 800 million inhabitants, almost a quarter of the world GDP and with more than US $ 100,000 millions of bilateral trade in goods and services.
The reached agreement ensures the main objectives set by the Mercosur countries, as it improves the conditions of access in goods and services for their exports, while allowing a transition period for the commercial opening of European goods and services and preserves Industrial development tools in fields such as intellectual property, public procurement and commercial defense.

The EU is the first global investor, with an investment stock that exceeds 30% of the world total. It imports 17% of the total world purchases of goods and services and represents 20% of the product of the international economy. The agreement will provide opportunities to export to a market with more than 500 million inhabitants, with an average per capita GDP of USD 34,000, while allowing access to a more diverse offer and higher quality products, at more competitive prices for Mercosur industries and consumers.