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| EU agrees trade deal with Mercosur after 20 years | |
| (32 minutes later) | |
| The EU and South American economic bloc Mercosur have clinched a trade deal following 20 years of negotiations. | The EU and South American economic bloc Mercosur have clinched a trade deal following 20 years of negotiations. |
| EU Commission President Jean-Claude Juncker said it was the biggest deal the EU had ever concluded and, at a time of trade tensions, showed that "we stand for rules-based trade". | |
| Brazil's President Jair Bolsonaro said it was "historic" and "one of the most important trade deals of all time". | Brazil's President Jair Bolsonaro said it was "historic" and "one of the most important trade deals of all time". |
| Mercosur consists of Argentina, Brazil, Uruguay and Paraguay. | |
| The deal would be good for consumers and the environment, Mr Juncker added. | |
| Argentina's Secretary of International Relations Horacio Reyser said the deal would create a market for goods and services covering 800 million consumers. | |
| It would bring benefits for his country, he said, including boosting GDP, creating jobs and attracting investment. | |
| Mr Reyser tweeted a video of the moment the deal was confirmed. | |
| In a statement, Brazil said the deal included eliminating tariffs on products such as orange juice, instant coffee and fruit, Reuters reported. | In a statement, Brazil said the deal included eliminating tariffs on products such as orange juice, instant coffee and fruit, Reuters reported. |
| Meanwhile producers of other products such as meat, sugar and ethanol would have greater access to the EU market through quotas, the statement said. | |
| Last year the EU signed a free trade deal with Japan, covering nearly a third of the world's GDP and 600 million people. | |