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Mercosur and four European nations signed a free trade deal affecting nearly 300 million people.
Mercosur, the South American trade bloc including Brazil, Argentina, Paraguay, and Uruguay, has signed a free trade agreement with Iceland, Liechtenstein, Norway, and Switzerland.
The deal, finalized in Rio de Janeiro, creates a free-trade zone for nearly 300 million people with a combined GDP exceeding $4.3 trillion.
It covers goods, services, investment, and intellectual property, aiming to strengthen economic ties amid global trade uncertainty.
Each nation must ratify the agreement for it to take effect.
Brazil’s foreign minister also announced expectations to finalize a trade deal with the UAE by year-end 2025, with ongoing talks with Canada, Japan, India, Vietnam, and Indonesia as Mercosur seeks new partnerships amid shifting global trade dynamics.
El Mercosur y cuatro países europeos firmaron un acuerdo de libre comercio que afecta a casi 300 millones de personas.