1) The European Union and the Mercosur countries (Brazil, Argentina, Uruguay and Paraguay), after 20 years of negotiations, have reached a commercial agreement that will largely liberalize trade in products and goods between the two areas.

2) Abatement of import duties – The interregional EU-Mercosur agreement provides for the abolition of the majority of duties on exports from the EU to Mercosur and will therefore contribute to increasing the competitiveness of European companies, allowing savings of 4 billion of euros of duties per year.
In particular:

• as regards the industrial sector, the agreement will lead to an increase in exports of EU products hitherto subject to high and sometimes prohibitive duties, including cars (35%
duties), car parts (from 14% to 18%), machinery (from 14% to 20%), chemicals (up to 18%), pharmaceuticals (up to 14%), clothing and footwear (35% ) or knitted fabrics (26%);

• as regards the agri-food sector, the agreement will lead to a drastic reduction in the high Mer-cosur duties, to which are currently subject the products exported from the EU such as chocolate and sweets (20%), wines (27%), – spirits (from 20% to 35%) and soft drinks (from 20% to 35%). The agreement will also allow duty-free access for dairy products from the EU (currently subject to 28% duties) and in particular for cheeses;

• in addition, the Mercosur countries, pursuant to the agreement, will adopt legal regulations to guarantee protection from imitations against 357 high-quality European food and drink products with recognition of origin from geographical indications (IG), including Tiroler Speck (Austria), Fromage de Herve (Belgium), Münchener Bier (Germany), Comté (France), Prosciutto di Parma (Italy), Polska Wódka (Poland), Queijo S. Jorge (Portugal) , Tokaji (Hungary) and Jabugo (Spain).

3) Compliance with European food safety standards
As regards food safety, European standards will remain unchanged, it being understood, as is currently the case, that all imports must comply with EU standards.

4) Intellectual property
An important provision of the agreement concerns the protection of intellectual property. For the first time, the EU and Mercosur countries will adopt con-ventional rules to address and resolve legal problems related to all areas of intellectual property and industrial and commercial secrets, as well as a series of provisions for the strengthening of the rules of law civil and administrative to protect intellectual property, copyright, trademarks, patents and industrial design.

5) Simplification of customs procedures
The agreement will lead to a significant simplification of customs procedures, so that once the agreement has entered into force, it will be easier for businesses to export thanks to the streamlining of customs procedures and a harmonization of regulations and technical standards.