The Minister of Agriculture, Fisheries and Food, louis planes, highlighted the recent trade agreement between the European Union (EU) and Mercosur as a "great strategic and commercial opportunity" for Spain, especially for key sectors such as olive oil, wine and pork.
In his speech, Luis Planas emphasized the magnitude of the agreement with Mercosurdescribing it as "strategic, modern, and balanced." The minister emphasized that this pact represents the EU's largest trade agreement in terms of population and tariff savings, opening the door to a market of 270 million inhabitants and one of the most important economies outside the European Union.
"This agreement represents a unique opportunity to strengthen our trade relations with Latin America and the Caribbean, and to boost the growth of our productive sectors," Planas stated.
“Our sector is ready; it already exports to Mercosur, and with the agreement in force, it will do so at lower costs and be more competitive,” Planas stated, emphasizing the ability of Spanish producers to take advantage of the new opportunities presented. He further specified that sectors such as the olive oil, wine and pork, in which Spain holds a leading position worldwide, will particularly benefit.
Planas also emphasized the design of the agreement, which, in his words, "offers the greatest protections ever incorporated into a trade pact." He explained that the sensitivities of the European agri-food productions, and that the quantities that can be imported into the EU of certain sensitive products have been "carefully designed".
The European Commission estimates that the agreement will generate tariff savings of 4.000 billion euros for European exports, of which 400 million will correspond to Spain, including 100 million euros in agri-food products.
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