Twenty years ago, the European Union began discussions with the Mercosur bloc of countries in South America – Argentina, Brazil, Paraguay and Uruguay – and only recently this historic agreement was officially signed that will successfully reduce billions of dollars in costs for both sides. The EU-Mercosur deal will both strengthen the relationship with European countries by removing duties on goods and improving an integrated market system, but also by modernising the challenging Mercosur system will improve agreements with South America beyond Europe, including Asia and the United States.
The agreement predominately includes the agricultural market – namely, beef – in exchange for cars and other items all with reduced tariffs. Included in this EU-Mercosur deal is the commitment by each of the signatories to climate change with reference to the Paris Climate Agreement. The agreement included targets by the year 2020 to reduce CO2 emissions and Brazil is a signatory committed to the reduction of the global threat of climate change. The agreement ensured that all parties involved will improve and adopt a sustainable, low-carbon economy inclusive of mitigation strategies.
A sustainable, low-carbon economy. Cars? Cows? Mass deforestation? Read More