Mercosur, EU sign trade deal after 25 years of negotiations
On Friday (Dec. 6), the heads of state of Mercosur and EU representative Ursula von der Leyen announced the signing of a free trade agreement to reduce export tariffs among the countries in these markets. The negotiations had been dragging on for 25 years.
The agreement was announced at a press conference in Montevideo, Uruguay, during the 65th Mercosur Heads of State Summit.
In the presence of presidents Luiz Inácio Lula da Silva (Brazil), Javier Milei (Argentina), Luis Alberto Lacalle Pou (Uruguay), and Santiago Peña (Paraguay), it was announced that negotiations on free trade rules between the two blocs had been concluded. The agreement involves nations with a combined population of over 750 million people.
The president of the European Commission emphasized that the measure marks the beginning of a new chapter. "I look forward to discussing this with the EU countries. This agreement will benefit people and companies, meaning more jobs, more choices, shared prosperity."
