BRAZIL’S TRADE IS SET TO INCREASE FIVEFOLD THANKS TO THE MERCOSUR-EU AGREEMENT

At the G20 conference in Rio de Janeiro, the National Confederation of Industry (CNI) and BusinessEurope signed a statement urging Mercosur and the EU to conclude their trade agreement. The 20-year-old deal would boost Brazil’s global market integration. If concluded, the pact would increase privileged access to international goods from 8% to 37%, boosting Brazilian industry, according to CNI. However, French Prime Minister Michel Barnier demands a text edition. The Brazilian administration hopes to finish negotiations by the end of the year. The letter stresses the treaty’s economic resiliency, supply chain strengthening, and opportunity creation. CNI reports that EU trade generates more jobs and production than Brazil’s biggest trading partner, China.
Source: Canal Rural (*Translated by Ia Niani)