00:00Swiss Economy Minister Gaurav Harleman on Tuesday formally signed a free trade agreement that was concluded earlier this year with the Mercosur States, his ministry said.
00:10Palmland signed the deal in Rio de Janeiro with representatives of the other member states of the European Free Trade Association's EFTA, his ministry said in a statement.
00:20The free trade deal will enable tariff savings for Swiss companies of over 155 million Swiss francs or $197 million per year in commerce with the bloc.
00:33We are gathered to mark and celebrate a significant milestone, the signing of a broad free trade agreement between Mercosur and the EFTA states.
00:42This is a moment of pride and optimism. In a world marked by uncertainty and fragmentation, this agreement sends a clear and positive signal that cooperation, openness and mutual respect remain the best way forward.
01:01Today, we are writing a new chapter in that relationship, one that looks to the future.
01:10This agreement is ambitious and comprehensive.
01:13It improves market access for goods, creates new opportunities for service providers and strengthens legal certainty for investors.
01:22It also includes provisions on intellectual property rights, public procurement and competition.
01:31Yet, beyond these technical elements lies something even more essential, trust.
01:37Trust that despite differences in geography, size and economic structure, we can build a true partnership.
01:44The Brazilian Vice President Geraldo Altmin said the recent prison condemnation against former President Jair Bolsarando would not affect the country's foreign relations.
01:54The Swiss government will submit the accord to Parliament for approval and it will take effect once the approval processes among the senatories have been completed.
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