The EU and the MERCOSUR Association Agreement in negotiation since 1999 is essentially blocked by trade aspects such as access to markets ofagricultural products for the EU and public procurement and services for the MERCOSUR. Since the resumptions of negotiations in 2010 and, despite de fact that the opposite economic cycles in both regions make the deepening of the relations more convenient than ever, there has no been a formal exchange of access market offers.This article shows how to strengthen economic relations in those sectors which currently fall outside protectionist measures by both blocks. Furthermore, the analysis of economic complementarities, competitiveness matrix, made according the ECLAC methodology, TradeCAN (Trade Competitive Analysis of Nation), let us identify those sectorial sectors where action could be taken from today. This analysis classifies sectors according to market share and the strength of demand in rising stars, falling stars, lost opportunities and declining. Based on this classification authors define some policy recommendations as productive and trade policies, productive restructuring policies and other policies that facilitate trade.
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