Brussels, 23 March (LaPresse) – The European Union today notified the Mercosur countries of the instrument for the provisional application of the EU-Mercosur Interim Trade Agreement (iTA). By sending its ‘note verbale’ to Paraguay, the legal custodian of the Mercosur treaties, the European Commission has taken the final procedural step necessary for provisional application, in line with the Council’s decision of 9 January. The iTA will therefore apply provisionally from 1 May between the EU and all Mercosur countries that complete the ratification procedures and notify the EU by the end of March – Argentina, Brazil and Uruguay have already done so. Paraguay has recently ratified the agreement and is expected to send its notification shortly. Provisional application ensures the elimination of tariffs on certain products from day one, creating predictable rules for trade and investment. EU businesses, consumers and farmers will therefore be able to start benefiting from the agreement immediately, whilst sensitive sectors of the EU economy will be fully protected by robust safeguards.
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