摘要：Over the last few years, Mercosur has become the more dynamic extra-Community business partner of Spain, and at the same time Spain has become the main European investor in the area, and the second one globally after the U.S. But this approach is not exclusive for Spain but it is also a general tendency in the European Union. This fact is promoting a greater institutional approach between the European Union and Mercosur in view of the creation of a Free-Trade Area, as foreseen in the agreement signed between both parties in Madrid in 1995. The creation of this free-trade area will undoubtedly have significant effects on the labour market and, as a result of the greater competition promoted by the free-trade, there will be winning sectors (that will increase goods and employment) and losing sectors (that will decrease goods and employment). The aim of this work is to analyse quantitatively and qualitatively the impact of a free-trade agreement between the European Union and Mercosur on employment and labour relationships among Spain, Argentina and Brazil, and to propose policy measures allowing to relax this impact. In sectoral terms, a North-South trade relation is to be found, according to the studies of traditional patterns of international trade. That is to say, the most dynamic sectors for Spain in the trade with Mercosur countries would be those of greater technological and capital-intensive content, while for Mercosur countries, the most dynamic sectors would be those of intensive employment and commodities. In terms of employment, the results would also be positive, increasing employment in all countries analysed. In sectoral terms, sectors with greater increase in employment after the signing of the free-trade agreement would be the same that have comparative advantages in international trade. Considering these results, Spain is recommended to work together with the European Commission with the aim of expanding the offer of the dismantling of tariff barriers to Mercosur, to reduce deadlines for the process of trade liberalization- tariff and non tariff barriers- and to include Mercosur among the countries with the most liberalised preferential trade regime.
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