Uruguay reached an important agreement between Mercosur and the European Free Trade Association (EFTA), considered highly positive by the country’s Exporters Union.

For the organization, this opens access to new markets “considered attractive by the productive sector.” Foreign Minister Mario Lubetkin described the agreement as “historic, in a context where the Yamandú Orsi government seeks to open markets to boost growth.” The private sector is also enthusiastic about the agreement, given that it encompasses attractive markets.

The Mercosur member countries — Argentina, Brazil, Paraguay, and Uruguay—along with the EFTA member countries — Iceland, Norway, Switzerland, and Liechtenstein— “represent a combined GDP of over $4.3 trillion and a market with some 300 million consumers.” The agreement is important for all involved and is the first “group-to-group” agreement of the regional bloc.

The combined GDP of the eight nations that signed this agreement reaches $4.4 trillion. “In the case of Uruguay, trade with EFTA countries is only $35 million annually.” According to Lubetkin, this is very low, and the goal is to increase it.

According to the Foreign Minister, “the Vice President of Switzerland invited President Orsi to visit the country in 2026.  Additionally, Ireland and Norway expressed interest in establishing ties with Uruguay and in purchasing specific products.” Although the products were not specified, they would likely include agricultural and agro-industrial products such as apples, peaches, blueberries, wheat, rice, and garlic.

M.Pino

Source: infobae

(Reference image source: Ian Taylor on Unsplash)

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