A report published on RAI News website highlights that the deal, signed in the capital of Paraguay, after more than a quarter of a century of negotiations, “will reduce access costs and strengthen the competitiveness of Italian exports.”
Experts underscored that the deal, which still needs to be ratified nationally and by the European Parliament before entering into force, will generate strong economic and export growth in Italy, with particular benefits for small and medium-sized enterprises and the high-quality agri-food sector.
Italian Foreign Minister Antonio Tajani recently highlighted the importance to counteract the protectionist policies of the United States “at a time when the administration of US President Donald Trump is reintroducing tariffs on both the EU and other important markets.”
This deal enables the creation of the world’s largest free trade zone, encompassing 800 million people, which will include 27 EU countries and the MERCOSUR nations, among them Argentina, Brazil, Uruguay, Paraguay, Bolivia, and Venezuela, the latter suspended since 2017.
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