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In March 2021, Iceland’s Minister of Fisheries and Agriculture announced his intention to allocate ISK 970 million ($7.5 million) in financial support for Icelandic sheep and cattle farmers.
On June 28, 2019, the European Union became the first major partner to strike a trade agreement with the Southern Common Market (or MERCOSUR) countries of Argentina, Brazil, Paraguay, and Uruguay.
The Philippines and Member States of the European Free Trade Association (EFTA) – Iceland, Liechtenstein, Norway, and Switzerland – signed a comprehensive Free Trade Agreement (FTA) on April 28, 2016.
The United States is the world’s largest producer of beef but it also imports more beef than any other country.
U.S. agricultural exports to South America nearly doubled in the past four years, reaching a record of more than $8 billion in calendar year 2014.