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47m ago

Mercosur and EU Sign Long-Sought Trade Pact in Asunción

Ratification will determine the pact's timing and scope.

Javier Milei, en la Sesión Plenaria de la Cúpula de Jefes de Estado de los Estados Partes de Mercosur y de los Estados Asociados en Foz de Iguazú (Brasil). Foto: EFE.
Milei cuando mencionan a Lula en la ceremonia de firma del acuerdo entre Unión Europea y el Mercosur
La Argentina firmó el acuerdo comercial Mercosur-Unión Europea.
El presidente Javier Milei llegó a Paraguay para la firma del acuerdo entre el Mercosur y la Unión Europea. 

Overview

  • Mercosur foreign ministers and EU Trade Commissioner Maroš Šefčovič signed the texts at Asunción’s Gran Teatro José Asunción Flores with several presidents attending as witnesses.
  • The agreement creates a market of roughly 720–780 million people and phases out or reduces more than 90% of bilateral tariffs, with bilateral safeguards and sustainability requirements in areas such as deforestation and labor.
  • The accord is not yet in force and still requires approval by the European Parliament and by the legislatures of Mercosur members.
  • Political headwinds persist, with European farmers protesting and several EU governments opposing or abstaining during internal votes led by France’s rejection.
  • Brazil’s president Luiz Inácio Lula da Silva skipped the ceremony, sending his foreign minister as he met EU leaders in Rio de Janeiro the day before.