EU-Mercosur Trade Agreement Finalised After 25 Years

The European Commission and Mercosur (Brazil, Argentina, Uruguay, Paraguay) finalised the EU-Mercosur Association Agreement after more than 25 years of intermittent negotiations. The deal creates a trade area of over 700 million people. France and several other EU member states strongly opposed it, citing concerns about agricultural competition and deforestation. The agreement faces a complex ratification process requiring approval by the European Parliament and national parliaments.