The European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, and Mercosur, South America's leading trade bloc (Argentina, Brazil, Paraguay, and Uruguay), have finalized a comprehensive trade agreement. This deal establishes a free trade area encompassing nearly 300 million people. The agreement aims to reduce tariffs and promote trade in goods and services between the two blocs, potentially boosting economic growth and investment. Details regarding specific sectors and implementation timelines are expected to be released soon.