Kim Kataguiri: The Agreement constitutes the first free trade instrument concluded between Mercosur and a country from the Asia-Pacific region, which represents a unique commercial opportunity, given that it is a region with the greatest economic dynamism in the world.
Kim Kataguiri: With this Agreement, Brazil and the countries of Mercosur will have privileged access to one of the most important commercial hubs today, with the potential to become a gateway to the broad market of goods and services formed by other Asian countries.
The text also brings significant advances in structuring the legal framework applicable to investments, in line with the contemporary paradigm of Agreements on Cooperation and Facilitation of Investments.
Kim Kataguiri: The Agreement establishes a free trade area in accordance with Article XXIV of GATT 1994 and Article V of the GATS.
Kim Kataguiri: To that end, the Parties agreed on the substantial elimination of import tariffs applicable to bilateral trade.