EU to sign long-awaited trade deal with Mercosur in Paraguay
EU Commission President Ursula von der Leyen, accompanied by EU Council President Antonio Costa, will meet with leaders of Argentina, Brazil, Paraguay, and Uruguay to finalize the deal. "It will be an historic moment in the history of our European Union," von der Leyen said, highlighting that negotiations spanned 25 years.
The agreement seeks to reduce tariffs on agricultural products from Mercosur countries, including beef, poultry, dairy, sugar, and ethanol, while granting European industries expanded access to South American markets.
EU member states approved the deal on Friday, following delays in December caused by farmer protests and opposition from countries such as France, Ireland, Hungary, and Poland.
However, European farmers continue to raise concerns that lower-cost imports produced under less stringent standards could create unfair competition and threaten small-scale farms across the EU.
The pact still requires approval from the European Parliament. "In the commission, our sole focus at the moment is to sign the deal. We are continuing to work with MEPs and engage with them because we feel we have a deal on the table," spokesperson Olof Gill said.
When asked if the agreement could take effect before parliamentary ratification, Gill noted, "The treaty does allow for this possibility. Yes."
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