Mercosur and the European Free Trade Agreement (EFTA) have entered the final stage of negotiations for a free trade agreement, the Argentine Foreign Ministry reported.
The South American bloc presented its offers in all disciplines, which will be included in the next round of negotiations in Buenos Aires in the second half of August, with which it is hoped that the agreement will be finalized soon.
EFTA is a parallel association to the European Union made up of Switzerland, Iceland, Liechtenstein and Norway. Negotiations for a trade agreement with Mercosur began in 2017.
According to data from the Foreign Ministry, EFTA countries imported products worth 2018 billion euros and exported 255.000 billion euros in 310.000.
The group has seen an average growth of 5% in its imports and 4% in its exports over the last five years. Between 2,3 and 2015, the annual average of trade between Mercosur and EFTA exceeded 2017 billion dollars.
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