Mercosur has concluded a free trade agreement with EFTA

For Argentina, the negotiator was the under-secretary of Mercosur and international economic negotiations, Victorio Carpintieri. It was a negotiation that took much less time than the EU, which required 20 years. In this case, they started in June 2017.

In terms of internal politics, this is another achievement in the management of the international policy of Mauricio Macri's government, which, in the current context of economic crisis and after having obtained a negative result in the primary elections, must to show another objective: those imposed on international negotiations.

EFTA has free trade agreements with 35 countries, including Mexico, Chile, Canada, Colombia, Costa Rica and Ecuador.

The members of the bloc have formed a market of about 14 million residents with strong purchasing power. The block is also characterized by its investment exporter.

"This agreement with EFTA will facilitate our exports to a very high purchasing power market of about 14 million inhabitants, where the GDP per capita of the four countries is among the highest. of the world"said Foreign Minister Jorge Faurie.

The signed agreement includes 13 chapters. At the previous meeting held in Buenos Aires in May, 7 chapters had been closed. Mercosur's exports to the small European trading bloc exceed $ 3 billion.

Details of the treaty

• The treaty covers both tariffs and other trade issues of the 21st century. Regulatory issues, services, investment, government procurement, trade facilitation and cooperation, technical barriers to trade, sanitary and phytosanitary measures, sustainable development, competition, trade defense and intellectual property are included.
• Negotiations were not just about opening the market for our exportable supply, but also about attracting investment in key sectors such as mining, manufacturing and energy.
• This agreement generates export opportunities for all production sectors, especially for micro, small and medium enterprises (MSMEs). The offers cover about 99% of our sales in the EFTA countries: new destinations are opened for beef and poultry, wines, corn, honey, vegetable oils and fresh fruits (citrus, blueberries, strawberries), among others typical regional economies.
• Customs duties on 100% of Mercosur's industrial exports will be eliminated, which will provide a clear opportunity to diversify and increase our value-added exports.