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Which country will experience the largest GDP growth due to the EU-Mercosur trade agreement by end of 2025?
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European Union•EU•Mercosur•65th Mercosur Summit•Montevideo•Uruguay•Brazilian•European Commission•Ursula von der Leyen•Von der Leyen•Europe
Resolution / Starting Odds
Brazil • 25%
Argentina • 25%
Germany • 25%
France • 25%
GDP growth reports from the IMF or World Bank
Story
After 25 Years, EU and Mercosur Finalize Historic Free Trade Agreement
Dec 6, 2024, 01:27 PM
On December 6, 2024, after 25 years of negotiations, the European Union (EU) and the Mercosur trade bloc have concluded a historic free trade agreement. The announcement was made during the 65th Mercosur Summit in Montevideo, Uruguay, with the presence of leaders including Brazilian President Luiz Inácio Lula da Silva and European Commission President Ursula von der Leyen. Von der Leyen hailed the agreement as "a victory for Europe" and emphasized its reflection of shared values and commitment to climate action. The agreement creates one of the world's largest free trade zones, encompassing 718 million people and economies totaling approximately $22 trillion. Leaders on both sides celebrated the deal as a significant milestone that will strengthen economic ties, enhance regional integration, and promote sustainable development.
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Argentina • 25%
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