On 28 June 2019, the European Union and Mercosur (a trade bloc comprising Argentina, Brazil, Paraguy and Uruguay) reached a political agreement for a trade agreement.

It marks the largest trade agreement concluded by the EU, and is estimated to save over €4 billion in duties on EU exports per year. The deal also includes access to public procurement contracts, protection for regional food specialties and greater freedom to provide services.

For the South American trade bloc, the principal gains is the increased access to Europe’s market for agricultural goods, in particular beef, poultry, sugar and ethanol. European business are expected to benefit from slashed duties on cars and car parts, chemicals, machinery and textiles.

Author

Jessica's practice focuses on international trade and anti-bribery work, encompassing customs, export control and sanctions matters. Jessica's trade work includes advising international clients on fast-moving and evolving EU and UN sanctions, notably in respect of Iran and Russia, and on compliance with UK and EU export controls. Her trade experience also includes advising on tariff classification and customs valuations. Jessica's anti-bribery experience includes assisting with investigations, and advising clients on compliance with anti-bribery laws. Jessica has also taken a lead role in monitoring Brexit-related developments; analysing how they will affect the UK's trading position generally, and clients' businesses specifically. She has helped clients begin to conduct risk assessments of how Brexit will impact their businesses, and has assisted them in developing tailored Brexit strategies. Jessica also presents at various seminars, webinars, and conferences on the complexities of Brexit. Jessica advises global clients on complex issues arising from international transactions and works with clients across a number of sectors including pharmaceuticals, defence, finance, aviation, energy, and telecommunications. Jessica has also worked previously in Paris, and is fluent in French.

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