On Friday, June 28th 2019, it was announced that the European Commission had reached an agreement with Mercosur to create the largest Free Trade Agreement in its history.
It has taken 20 long years to reach an agreement that affects a population of almost 800 million people and a quarter of the world’s GDP.
Now, Mercosur, one of the most protectionist and closed economic blocs in the world has a huge opportunity to make the economies of its member countries prosper: the EU is a colossus that buys more than two trillion dollars from the rest of the world every year. Dollars it spends on all kinds of products. Brazil, Argentina, Uruguay and Paraguay now have before them the best opportunity they’ve had in decades to overcome their economic problems. There’s only one condition: they will have to compete.
Argentina, officially the Argentine Republic, is a country located mostly in the southern half of South America. Sharing the bulk of the Southern Cone with Chile to the west, the country is also bordered by Bolivia and Paraguay to the north, Brazil to the northeast, Uruguay and the South Atlantic Ocean to the east, and the Drake Passage to the south.
With a mainland area of 2,780,400 km2 (1,073,500 sq mi), Argentina is the eighth-largest country in the world, the fourth largest in the Americas, the second largest in South America after Brazil, and the largest Spanish-speaking nation by area.
Argentina claims sovereignty over part of Antarctica, the Falkland Islands, and South Georgia and the South Sandwich Islands.
Brazil is the largest country in both South America and Latin America.
Its capital is Brasília, and its most populous city is São Paulo. The federation is composed of the union of the 26 states and the Federal District. It is the largest country to have Portuguese as an official language and the only one in the Americas, as well as the most populous Roman Catholic-majority country.
Its Amazon basin includes a vast tropical forest, home to diverse wildlife, a variety of ecological systems, and extensive natural resources spanning numerous protected habitats. Brazil is classified as an upper-middle income economy by the World Bank and a newly industrialized country.
The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe. Its members have a combined area of 4,233,255.3 km² and an estimated total population of about 447 million.
Paraguay is a landlocked country between Argentina, Brazil and Bolivia, home to large swaths of swampland, subtropical forest and chaco, wildernesses comprising savanna and scrubland. The capital, Asunción, on the banks of the Paraguay River, is home to the grand Government Palace and the Museo del Barro, displaying pre-Columbian ceramics and ñandutí lacework, the latter available in many shops.
Uruguay is a South American country known for its verdant interior and beach-lined coast. The capital, Montevideo, revolves around Plaza Independencia, once home to a Spanish citadel. It leads to Ciudad Vieja (Old City), with art deco buildings, colonial homes and Mercado del Puerto, an old port market with many steakhouses. La Rambla, a waterfront promenade, passes fish stalls, piers and parks.
