On June 28, 2019, MERCOSUR and the European Union (EU) reached a consensus on the commercial aspects of an Association Agreement between the two blocs.
The Agreement - considered historic for its size, thematic breadth, and political significance - includes commitments on trade, cooperation, and political dialogue, and creates a market of 778 million inhabitants. At the trade level, the EU is committed to liberalizing 92% of imports from MERCOSUR, while the South American bloc will release 91% of European imports.
In the agri-food sector, the Agreement provides 82% of export liberalization to the EU and a partial liberalization for much of the rest, mainly through import quotas at zero or reduced tariffs.
Considering the strategic importance of the Agreement for the region, the IADB-INTAL developed an agile tool for MERCOSUR exporters and importers to know the liberalization tariffs and schedules negotiated between the two blocs, to make the most of the opportunities that this Agreement will provide for trade and development in both regions.