The European Commission has sent an official notification (note verbale) to Paraguay, the legal guardian of Mercosur treaties, marking the final step for launching the provisional application of the interim Trade Agreement (iTA) in line with the Council Decision of January 9.
The agreement will apply between the EU and those Mercosur countries that have completed their ratification procedures and notified the EU by the end of March. So far, Argentina, Brazil, and Uruguay have done so, while Paraguay has also ratified the agreement and is expected to submit its notification shortly.
The provisional application предусматриє the removal of tariffs on a range of products from day one, creating predictable conditions for trade and investment. At the same time, sensitive sectors of the EU economy, particularly agriculture, will be protected by safeguard mechanisms.
Beyond its economic impact, the agreement will also enhance cooperation between the EU and Mercosur countries on labour rights, climate policy, and the resilience of supply chains, including those for critical raw materials.
Detailed information for exporters on how to benefit from the agreement is expected to become available soon on the Access2Markets platform.
PigUA.info based on materials from pig333.com