The president of CEOE, Marta Blanco, met during the Commission of International Relations of CEOE with the general deputy director of Commercial Policy of the European Union, Rocío Frutos, to analyze the commercial negotiations of the EU-Mercosur agreement. Blanco highlighted during the meeting the importance that the Ibero-American area has for Spanish companies and showed, from the Commission, its firm support to the commercial negotiations.
The Deputy Director General of Commercial Policy of the European Union, Rocío Frutos, explained that the EU-MERCOSUR agreement is a priority for Spain and its foreign policy. He also informed that a political agreement has been reached and that the EU is the first block that closes an agreement with MERCOSUR. Frutos added that Spain has been a clear leader in supporting trade negotiations within the EU. He clarified that there were still technical aspects to be closed and that the negotiations could last 5-6 more months. He explained that once closed negotiations and before its ratification by the European Parliament, the Agreement would have to undergo a legal review, be translated into all the official languages of the EU, be approved by the Council and be subsequently signed by the negotiating parties.
The Agreement, according to the Deputy Director of Commercial Policy, will bring several advantages, taking into account that it means access to a market of 160 million consumers. It is estimated, he said, that the agreement allows savings of 4,000 million euros a year in tariffs and exports to MERCOSUR are expected to increase by 40,000 million euros over the next four years. Frutos also stressed that the EU is committed to liberalizing 92% of MERCOSUR imports, but it must be borne in mind that 66% were previously liberalized. "It has a term of ten years to reach this figure," he concluded.