EU and the South American bloc Mercosur concluded a trade deal after 20 years of talks, BBC reported. 

Both blocs intensified their efforts to conclude an agreement after the victory of Donald Trump in the presidential elections, which prompted the EU to suspend talks with the United States and look for alternative trade allies.

The deal has been reached between the member countries of Mercosur, Argentina, Brazil, Paraguay and Uruguay and Canada, and deals have been concluded with Japan and Mexico.

The EU is the largest trading and investment partner of the Mercosur bloc and the second largest partner in merchandise trade.