Isamar Maziad, vice president of the Moody's risk rating agency, said on Monday (2.07.2019) that the trade chapter of the bi-regional association agreement between the European Union and Mercosur is positive in credit terms, but warned that the benefits will materialize in the medium term and that Uruguay and Paraguay will be the economies most benefited from the South American bloc.
«The free trade agreement between the European Union and Mercosur is a positive development in credit terms, the benefits of which will probably materialize in the medium term."Samar Maziad said in a statement released by Moody's.
Moody's senior analyst considered that "Greater trade integration will boost exports, support investments and technology transfer, and contribute to greater competitiveness in Mercosur countries."«.
He then specified that "Uruguay and Paraguay will benefit the most from the agreement, given that they are open and small economies.«.
«In the case of Brazil and Argentina, the largest economies in Mercosur, we expect the economic benefits to be significant, but proportionally smaller, and the macroeconomic outlook to continue to be dominated by domestic developments."said Samar Maziad, senior analyst and vice president at Moody's.
Source: Telam
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