The agreement represents a win-win situation for both the EU and Mercosur and creates opportunities for growth, jobs and sustainable development on both sides. The services negotiations aim to open our markets to European service providers in sectors such as telecommunications, banking, insurance, “cultural and educational services”, “environmental services” (protection of water, sanitation and the environment), postal services, construction and tourism services. Water is essential in this regard, especially the freshwater reserves in the Gauaraní Acuifer, which share the four Mercosur countries. While this is not part of what the EU is currently asking for, there is no doubt that the large aquatic TNNs (the majority of which are European) will insist that guaraní Acuifer have full access as soon as the original agreement has been signed, as this agreement is open to renegotiating further liberalisation commitments. On the EU`s trade agreement with Mercosur With more than 260 million consumers and an annual GDP of €2.2 trillion, Mercosur is the fifth largest economy outside the EU. If the process is successful, the trade agreement will be the largest the EU has concluded for the affected population (780 million people) and one of the largest in terms of the volume of trade covered (€40-45 billion in imports and exports). The agreement aims to promote the exports of European companies in the automotive, chemical, pharmaceutical and clothing sectors and to offer them better access to public procurement markets in the Mercosur countries. In return, companies established in Mercosur, particularly in the agri-food industry, would benefit from greater outlets on the European market for their production, including beef, poultry, sugar/ethanol, etc. Meanwhile, during the six months, Mercosur has also made progress in its talks with Canada, South Korea and Singapore, countries with which the South American bloc also hopes to conclude trade agreements in the future, Cano added. The “Southern Common Market” or mercosur hopes to finally be able to sign by the end of this year the association agreement with the European Union concluded in June 2019 after two decades of negotiations, Paraguayan Foreign Minister Antonio Rivas said on Tuesday (June 30th).