'The deal aims to create one of the largest free-trade zones in the world'

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00:0025 years in the making, the European Union and the South American trade bloc Mercosur

00:06finally came to an agreement on a historic trade deal on Friday.

00:12My fourth message is that economically this is a win-win agreement.

00:19Europe is already Mercosur's second largest investment and trade partner, so you know

00:27how we do business together.

00:32The deal, first proposed in 1999, aims to create one of the largest free trade zones

00:38in the world, covering over 700 million people and nearly 25% of global GDP.

00:46The agreement received the support of leaders in Europe and South America alike, with German

00:50Chancellor Olaf Scholz and Argentinian President Javier Millet both celebrating the deal.

00:56But while an agreement has been reached, getting it approved is another matter altogether.

01:02It needs the green light from at least 15 of the European Union's 27 member nations.

01:08That could prove to be a challenge, as several countries opposed the deal, notably France,

01:14who have denounced its impact on the environment, as well as unfair competition for its farmers.

01:19Farmers who von der Leyen has looked to reassure.

01:23And to our farmers, we have heard you, listened to your concerns and we are acting on them.

01:30A top European farmer's lobby reacted to the deal by reiterating its...

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