Mercosur-EU Trade Partnership Could Create 778,000 Jobs

Written by Paulo Nogueira

Published on 02/07/2019 at 15:55

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Trade Agreement Between Mercosur and the European Union Promises to Boost Investments in the Country

The Mercosur-EU trade agreement, which started negotiations in 1999, has finally been concluded and will have a significant impact on the 28 EU nations and the 4 countries that make up Mercosur (Brazil, Argentina, Uruguay, and Paraguay). In total, they encompass approximately 750 million consumers and a GDP of US$ 17 trillion (25% of the global GDP). These are astronomical numbers, making this agreement one of the largest in history.

The European Union is Brazil’s second-largest trading partner, behind only China. Trade transactions last year between Brazil and the EU exceeded US$ 94 billion. However, this relationship was stronger in the past and has weakened due in part to the slowdown in European growth. Nonetheless, with the tariff reductions and incentives brought by the text of the agreement, the expectation is for a GDP increase of up to US$ 125 billion in the next 15 years.

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Benefits of This Agreement

The agreement will eliminate tariffs on important agricultural products exported by Brazil, such as fruits, coffee, and orange juice, as well as eliminate fees for the export of industrial products. Quotas will also be created for the sale of sugar, ethanol, and meats, as well as items like cachaça, cheeses, wines, and coffees recognized as coming from Brazil.

The opening of the European agricultural market could add US$ 9.9 billion to Brazil’s exports to the European Union. An increase of 23.6% over 10 years, potentially creating up to 778 thousand jobs. According to the president of CNI (National Confederation of Industries), Robson Braga, the agreement could lead Brazil to the “league of major economies in international trade.”

Mercosur-EU Trade Partnership Could Create 778,000 Jobs

Trade Agreement Between Mercosur and the European Union Promises to Boost Investments in the Country

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Benefits of This Agreement

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