The EU-Mercosur trade agreement promises to transform international trade by eliminating over 90% of tariffs and opening a potential market of 300 million consumers. According to La Repubblica, EU exports could grow by 39%, roughly €49 billion, with significant benefits for automotive, machinery, and pharmaceuticals.
The deal also provides strong protection for the agri-food sector, safeguarding 344 geographical indications, 57 of which are Italian, including Parmigiano Reggiano and Prosciutto di Parma. Lamberto Frescobaldi, president of the Italian Wine Union (Uiv), told La Verità that the agreement is strategically vital for wine, offering both tariff and non-tariff barrier reductions and creating new market opportunities.
Frescobaldi emphasized safeguards for European agriculture, ensuring 355 food, wine, and spirit names - including Prosecco - are protected. He expressed confidence that South American wines will not threaten the Italian market, while noting a decline in exports to the U.S., where Italian companies have absorbed tariffs and lowered prices by around 10%, a situation that is hard to sustain. The EU-Mercosur agreement, concludes Frescobaldi, balances protection of European excellence with new market opportunities, strengthening trade relations and opening strategic avenues for the industry.