Paraguay

The agreement between the European Union and Mercosur
Germany, Americas, Argentina, Brazil, Europe, Mercosur, International Organizations, Paraguay, European Union, Uruguay

The agreement between the European Union and Mercosur

Authors: Bruna Barrento and Maria Julia Zito In the South American scenario, the Southern Common Market (Mercosur) consists of a customs union between Argentina, Brazil, Paraguay and Uruguay. In this sense, the members of this agreement have common external tariffs. Whereas in the European scenario, the European Union consists of a political and economic union with free movement of people, services and capital between 27 economies of Europe. It should be added that such unions constitute a mostly economic relationship. In addition, in 2019, the EU presented itself as Mercosur's second largest trading partner. Thereby, it was decided to establish a macrostructure to support the relationship between the two blocks. Thus, since 1999, negotiations have started on the elaboration of an agreement that f ...