After 20 years of on-and-off negotiations, the European Union and Mercosur states – Argentina, Brazil, Paraguay and Uruguay – reached a political agreement for a trade deal. To become effective, it needs the ratification of all countries involved (27 in the EU and 4 from Mercosur). Although the EU is implementing environmental provisions at the bilateral and regional level since the 2011 EU-Korea Free Trade Agreement, this is the first time that the Mercosur agree to such a Trade and Sustainable Development (TSD) Chapter. Experts will explain the recent developments and challenges ahead for both regions.
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