Press Release: EU – Brazil agreement on mutually beneficial textile trade liberalisation boosts prospects for EU-Mercosur trade negotiations

The European Commission and Brazil agreed on 8 August 2002 on a Memorandum of Understanding (MoU) which significantly improves access for textile products on each other's markets. The MoU gives Brazil better access to the EU by removing the quotas on Brazil's textiles and clothing exports to the EU. In return, Brazil will respect maximum tariff levels and refrain from applying any non-tariff barriers to EU textile and clothing exports.