Mercosur, a trade bloc made up of Brazil, Argentina, Paraguay and Uruguay, expects to close a trade agreement with the European Free Trade Association (EFTA) in “the next few days,” a Brazilian official said this week during the Brazil Steel Congress held in Brasilia from August 20-21.
The EFTA trade block is comprised of Switzerland, Norway, Iceland and Liechtenstein. EFTA countries import about $400 billion per year in products from Mercosur.
The final deal could be closed in Buenos Aires, Argentina. If a deal is reached, countries like Brazil could further improve its exports of auto parts, aluminum, among other products.