European chemical industry sees EU-Mercosur deal a boon for biochemistry

In Belgium, ICIS reports that the European chemicals industry group CEFIC says that it supports the newly-agreed EU-Mercosur trade deal because tariffs on 90% of European chemical exports to the five Latin American countries will drop, a move which it says will support the development of a European bio-based chemical industry. The new deal sees 450,000 metric tons of ethanol entering Europe duty-free for chemical use, primarily from Brazil, while another 200,000 tons will be for any use, including fuel.