The talks on the conclusion of a free trade agreement with the South American Confederation of States of Mercosur are in the homestretch. Both sides worked hard to resolve the remaining open points, said a spokeswoman for the EU Commission.

From the negotiating circles, it was said, that may already be on the sidelines of the G20 summit in Osaka, Japan, an agreement in Principle announced could be. There is also Argentina’s President Mauricio Macri, as well as Brazil’s head of state, Jair Bolsonaro, in addition to the EU leaders present.

The negotiations between the EU and the Mercosur countries of Argentina, Brazil, Paraguay and Uruguay have been going on for years. The aim is an agreement on the removal of tariffs and other trade barriers, the company should be cost savings in billion height. The Confederation of States of Mercosur, with a population of more than 260 million people, one of the major economic areas of the world.

The agreement with the Mercosur group would be the largest the EU has agreed ever. So far, this is the agreement with Japan, the on 1. February came into force and the largest created free trade zone in the world.

dpa

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