Number of participants
Mercosur group is one of the most important economic blocs in Latin America, is a regional integration process, initially created by Argentina, Brazil, Paraguay and Uruguay, and later joined by Venezuela.
The Mercosur countries occupy about 12 million square kilometers, have a population of about 240 million people, and the total volume of their countries’ output is about 1.4 trillion dollars, and they import about 280 billion dollars worth, which means that it represents a large market for consumption as well as production.
The agreement includes a number of promising areas of cooperation between Egypt and the countries of the assembly and in various goods and services, including trade in meat, dairy, sugar, fodder, paper and wood .
It allows preferential advantages for Egyptian exports to enter Latin American markets.
47 % of Egyptian exports were granted immediate exemption from customs duties under this agreement .
Reducing the cost of Egyptian imports from Latin American countries such as sugar, meat and soybean oil .
Reducing customs tariffs by more than 90% between Egypt and the Mercosur countries, as well as liberating agricultural goods from customs with solutions to rules of origin, preferential guarantees, and cooperation in the fields of investment, services, and others .