Sefcovic: EU and Mercosur Send Strong Signal to World on Reducing Barriers

Brussels, December 11 (TASR-correspondent) - By signing a historic trade and investment agreement with Mercosur, the EU is sending a message to the whole world that cooperation is possible through the reduction of tariffs and trade barriers, European Commissioner for Trade and Economic Security Maros Sefcovic has stated in an interview with Slovak media in Brussels. Sefcovic stressed that people from all EU-member states should realise that the EU will almost completely eliminate tariffs on nearly 91 percent of products traded between the two largest trading blocs. "For Slovakia, this means that when exporting cars to Mercosur - exports currently amount to around €200 million - tariffs will gradually drop from 35 percent to zero. Similarly, tariffs on machinery, optical equipment and plastics, which are currently above 20 percent, will also be reduced to zero," he explained. "Overall, this represents savings of €4 billion a year in tariffs for the EU. From this perspective, it is indeed a historic agreement, one that is not only of commercial and economic importance but one that also serves as a strong geopolitical signal," stated the Slovak commissioner. lin/df