The European Union and South American bloc Mercosur will sign a long-delayed free trade agreement on Saturday in Asuncion, Paraguay, creating one of the world's largest free trade zones . The pact, 25 years in the making, will eliminate tariffs on more than 90% of bilateral trade between the EU and Mercosur members Argentina, Brazil, Paraguay and Uruguay. Together, the blocs account for about 30% of global GDP and more than 700 million consumers. President of the European Commission Ursula von