The agreement removes import tariffs on more than 90% of EU products exported to Mercosur. Tariffs on certain products will be liberalized over long staging periods to allow enough time for mercosur companies to adapt. At a time of increasing protectionist pressure, a trade agreement between the EU and Mercosur sends a clear signal to the world that two of its largest economies: the EU and Mercosur have agreed that the trade agreement between them should support environmental standards and workers` rights, not lower or water them down. They also agreed that each party has the right to regulate in order to protect the environment and workers` rights. The agreement aims to protect the lives and health of consumers, animals and plants. It will strengthen and strengthen cooperation with Mercosur countries to ensure compliance with these high standards. With this agreement, the EU and Mercosur will cooperate more closely within international standards bodies. In addition, Mercosur has also made progress over the six months in its discussions with Canada, South Korea and Singapore, countries with which the South American bloc hopes to continue to conclude trade agreements in the future, Cano added. The agreement will reduce and eliminate discrimination and expand opportunities for EU and Mercosur providers and investors. Ten days ago, the EU and four Mercosur countries signed a free trade agreement that will cover a market of 780 million consumers.

However, opinions still differ on both sides of the Atlantic. EURACTIV-Partner, Eurofe reports. “The draft agreement does not provide any discipline against the practices of Mercosur countries in the fight against deforestation,” the French government said in a statement. Negotiations that have been ongoing for more than 20 years between the EU and the Mercosur countries (Brazil, Argentina, Paraguay and Uruguay) resulted in a political agreement last June. Since then, the European Commission has been preparing to sign the EU-Mercosur Free Trade Agreement. But the agreement is very controversial.