Historic trade deal signed between EU, South America

LUDOVIC MARIN / AFP

The European Union and South America’s economic bloc Mercosur have signed a historic trade deal.

The agreement will cut or remove trade tariffs in a bid to make imported goods cheaper. 

At the same time, it’s also hoped that exports will be boosted for South American and European companies. 

The  dead is expected to create market for goods and services for nearly 800 million consumers. 

The Mercosur bloc consists of Argentina, Brazil, Uruguay and Paraguay.

The deal comes after more than 20 years of negotiations between the two sides. 

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 10:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • The Agenda with Tom Urquhart

    10:00am - 1:00pm

    Your chance to have your say and debate the issues you love or loathe. It’s the chance to set The Agenda on the big topics of the day.

On Dubai Eye