Uruguay: Mercosur-EU Agreement to Boost Trade and Employment

Montevideo (ANTARA) - Uruguayan President Yamandu Orsi stated on Friday (1/5) that the provisional launch of the free trade agreement between the Southern Common Market (Mercosur) and the European Union (EU) could bring more trade and jobs after more than 25 years of negotiations. Speaking after the May Day commemoration event in Montevideo, Orsi mentioned that the agreement is starting to take effect and has the potential to strengthen relations with Europe amid rising protectionism. “We need to open our doors again, and that is its greatest benefit,” he said. He explained that the agreement regulates the gradual reduction of tariffs on most goods trade, with better market access for Mercosur’s agroindustrial products and the removal of barriers for European industrial exports. Orsi noted that Mercosur member countries, including Brazil, Argentina, Paraguay, and Uruguay, are still discussing ways to allocate export quotas to the EU, which is one of the sensitive issues in its implementation.