EU approaches MERCOSUR bloc trade agreement signing

Beijing. January 29. Silkroadnews - The European Union (EU) has approached signing of a trade agreement with the Mercosur countries - Argentina, Brazil, Paraguay and Uruguay, the Kazakh Telegraph Agency (KazTAG) reports with reference to the Kommersant newspaper.
The EU is getting close to signing the free trade agreement with the countries of MERCOSUR. The meeting of two bloc’s representatives is scheduled to be held in Brussels on January 30, the report said. The EU Trade Commissioner Cecilia Malmström noted, the agreement could be finalized within the coming weeks.
In December 2017, the EU and Japan announced they have reached a final arrangement on a free trade zone establishment agreement expected to come into force in March 2019, that is almost simultaneously with the UK leaving. This will build the world’s largest free trade area with 600 million people population and GDP accounting for 30% of the world’s GDP. Most of the duties currently in force between the EU and Japan will be abolished.