Notícias
PRESS RELEASE
Announcement of the conclusion of negotiations on the Partnership Agreement between MERCOSUR and the European Union
On December 6th, the Presidents of Brazil, Argentina, Paraguay and Uruguay and the European Commission announced the definitive conclusion of negotiations on the Partnership Agreement between MERCOSUR and the European Union. The announcement was made on the occasion of the LXV MERCOSUR Summit, which begins on the same date in Montevideo.
The MERCOSUR-European Union Partnership Agreement, which will now undergo the preparation process for its signature, is the largest trade agreement ever concluded by MERCOSUR and one of the world’s largest bilateral free trade areas. MERCOSUR and the European Union bring together nearly 718 million people and economies that combined total almost $ 22 trillion.
The announcement of the conclusion of negotiations culminates a process that began in 2023, when MERCOSUR, under Brazilian coordination, and the European Union resumed bi-regional negotiations. In these two years, a total of seven rounds of in person negotiations were held between the two blocs, all of them in Brasília.
In an innovative way, the Agreement opens up opportunities for trade and investment without compromising the capacity to implement public policies in key areas such as health, industrial development and innovation. Under President Lula’s guidance, the text of the Agreement announced today ensures the preservation of space for public policies in commitments on government procurement, trade in the automotive sector and exports of crucial minerals. The Agreement also provides mechanisms to deal with possible negative impacts of unilateral measures that could affect MERCOSUR exports. The two blocs agreed as well on sustainable development commitments that adopt a collaborative and balanced approach, recognizing that challenges in this area are common and must be addressed cooperatively.
The Agreement also contributes to deepening the regional integration of MERCOSUR, which demonstrates its potential as an efficient platform for the integration of the economies of Brazil, Argentina, Paraguay and Uruguay into foreign markets.
In addition to the expected economic and trade gains, MERCOSUR and the European Union share common values and interests, such as the defense of democracy, the promotion of human rights, the defense of peace and the commitment to sustainability. The Agreement establishes dialogue forums that will allow greater coordination between the two regions on these and other issues.
The agreed texts will be released in the coming days.
More information about the Agreement is available at the following links: