The Foreign Minister told the press that the treaty will generate, over the years, increases in Gross Domestic Product, greater employment, and a reduction in poverty.

As agreed, the treaty includes the progressive reduction of tariffs and trade barriers, the European Union will eliminate tariffs on 92% of Mercosur exports, while the South American bloc will eliminate tariffs on 91% of products imported from the EU.

The treaty began provisionally on May 1, a date considered historic for the four Mercosur countries and the 27 that make up the European Union.

Lubetkin accompanied President Yamandu Orsi that day in a virtual meeting between the presidents of Mercosur and the head of the European Commission, Ursula von der Leyen.

The Foreign Minister said that products from his country will immediately enter the European market with zero tariffs.

He mentioned meat and meat products, as well as fish, fats, fruits, leather goods, beer, wood, soy flour, wool, and fertilizers, among others.

“Other products will be able to enter with partial benefits, such as rice, corn, sorghum, and honey,” he specified. “From Europe, products from the automotive industry, machinery, out-of-season fresh fruits, chemical and pharmaceutical products, among others, will enter immediately,” he explained.

The agreement has been ratified by the Mercosur members, and the EU has activated a provisional clause while it completes its parliamentary and legal certification process.

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