EU AND SOUTH AMERICAN COUNTRIES AGREE ON FREE TRADE AGREEMENT




Serhat TUNAR -TDO- After 20 years of negotiations between the European Union (EU) and the South American Common Market (MERCOSUR), the parties reached a consensus on the terms of the free trade agreement.

For the entry into force of the agreement, the approval of all EU countries is required. It is thought that some problems may arise during the process of ratification of the agreement due to countries, such as France, abstaining from the agreement.

European Commission President Jean-Claude Juncker, who shared the details of the agreement through his social media account, said that he was happy to announce an ambitious, balanced and comprehensive trade agreement.

Juncker said in a statement that they had a historic moment, and despite the tensions in international trade, they advocated a common understanding of trade with their South American partners.