INTERNATIONAL REGULATORY ROUND UP – EU-MERCOSUR TRADE DEAL OFFERS EU CONFECTIONERS EXTRA SALES, BUT SUGAR PRODUCERS ARE WORRIED
August 1st, 2019
A EUROPEAN Union (EU) trade deal struck with South America’s Mercosur group of Brazil, Argentina, Uruguay and Paraguay, will open this emerging market to EU confectionery exporters, but Europe’s sugar sector fears increased Brazilian sugar exports. The agreement, which now needs to be ratified by both sides, will phase out Mercosur duties on EU exports of chocolate and sugar confectionery of 20%; biscuits (taxed at 20% to 35%); liquorice extract – 8%; and confectionery-making equipment – 14%. The exact timetable has yet to be released – but judging by ...
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