European Union–Mercosur Partnership Agreement – Impact on the domestic olive oil sector 137 Table 3 − Olive oil exports (4-digit CN code) to Brazil, 2021–2025 in thousands of euros 1509 Olive oil (mechanical or physical processes) 233 792 300 130 352 882 440 918 349 446 335,433 INE/GPP data – 23 March 2026 The year 2025 saw a correction to this upward trend, with a 20.7% decline compared with the previous year, whilst still maintaining a growth trajectory in value relative to 2021, with cumulative growth of 50%. Expected benefits of th e EU– Mercosur Agreement Although the Mercosur economies are characterised as emerging and dynamic markets, structural obstacles persist that constrain market access and external competitiveness. The agreement will provide greater regulatory transparency and predictability for European economic operators by removing tariff and nontariff barriers to access to this economic bloc. In this context, the economic relationship with Brazil is of particular importance to Portugal, not only because of the current trade relationship, but also due to the size of the market and existing historical ties. The gradual dismantling of the tariff duties currently levied by Brazil on olive oil imports will, in future, help to boost national exports. The Agreement provides for strengthened mechanisms to protect and promote products with a Protected Designation of Origin (PDO), contributing decisively to the mitigation of counterfeiting and unfair competition4 . Table 4 − Dismantling of tariff duties applied to olive oil under the EU–Mercosur Agreement After entry into force Current customs duties Mercosur offer Dismantling 10% Zero on 1 January of the 15th year 16 equal annual phases 4 The agreement ensures the protection of 36 Portuguese Geographical Indications. The list includes 6 olive oils with Protected Designation of Origin (PDO): Azeite de Moura, Azeite do Alentejo Interior, Azeites da Beira Interior (Azeite da Beira Alta, Azeite da Beira Baixa), Azeite de Trás-osMontes, Azeites do Norte Alentejano and Azeites do Ribatejo. CN code Description 2021 2022 2023 2024 2025 Five-year average
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