EU-Mercosur deal signed
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EU and Mercosur countries sign landmark free trade deal
Louis Oelofse | Shakeel Sobhan with AFP, Reuters
The agreement took 25 years to negotiate and will create one of the world's largest free trade zones. The deal was signed, despite opposition from some European farmers.
The agreement slashes more than 90% of tariffs between the EU and the Mercosur countries of Argentina, Brazil, Paraguay and Uruguay, though some cuts will be phased in over 10 to 15 years.
EU Trade Commissioner Maros Sefcovic told DW after signing the deal that European and Mercosur countries were "discussing all the concrete projects what we can do together."
"We are sending a very clear message to the world that Mercosur and European Union countries are for low tariffs, for smooth trade, for creating better quality and better prices for our consumers," Sefcovic told DW after signing the deal. "And we just simply want to work together, the friends of partners on mutual advantages project."
