The Chief Negotiators of MERCOSUR and the European Free Trade Association (EFTA) held a virtual meeting with the aim of relaunching the negotiations and starting the roadmap proposed by Argentina, on behalf of MERCOSUR, aimed at accelerating work for a future Free Trade Agreement between the two blocs and bringing positions closer for a successful conclusion.
Both parties agreed to hold a round of negotiations in Buenos Aires during the month of April. It will be the first meeting of this nature to be held since 2019, and to such end both MERCOSUR and EFTA have already begun intense preparatory work that will allow positions to be brought closer in the negotiation.
EFTA has an extensive network of free trade agreements currently in force and is one of the top ten players in global trade in goods and services. The countries that make up this free trade area (Iceland, Norway and the customs union of Switzerland and Liechtenstein) total 14.5 million inhabitants with an exceptionally high GDP per capita.
Argentina's exports to these four countries amounted to USD 1,223 million in 2023 (INDEC), while imports were USD 603 million in the same period (INDEC).
Among the EFTA Member States, Switzerland is an important global investor in a multiplicity of economic sectors; a trade agreement will therefore favor the attraction of capital from that origin to MERCOSUR. Swiss investments in our country exceed USD 3.5 billion.
