Mercosur–European Union Agreement Signed After 25 Years, Marking a Turning Point for Latin America
After a quarter-century of complex and often stalled negotiations, Mercosur and the European Union have formally signed a landmark free trade agreement, opening a new chapter in relations between Latin America and Europe. The deal was endorsed following a majority vote by the 27 EU member states and is set to create one of the largest free trade areas in the world.
The signing ceremony brought together three of the four Mercosur presidents: Paraguay’s Santiago Peña, Uruguay’s Yamandú Orsi, and Argentina’s Javier Milei. Brazilian President Luiz Inácio Lula da Silva did not attend the event in Asunción, although European Commission President Ursula von der Leyen visited him in Rio de Janeiro the previous day, underscoring Brazil’s central role in the agreement.
The EU’s decision, adopted in Brussels in early January, represents a decisive breakthrough after 25 years of negotiations between the two regional blocs. For the first time, a clear majority within the European Council backed the agreement, overcoming longstanding resistance from countries concerned about its domestic impact.
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