EU and Mercosur reach political agreement on groundbreaking partnership

The EU is Mercosur's number one trade and investment partner. EU exports to Mercosur were €56 billion in goods in 2023 and €28 billion in services in 2022. The Signatory State Parties of MERCOSUR – the Republic of Argentina, the Federative Republic of Brazil, the Republic of Paraguay and the Oriental Republic of Uruguay – and the Commission have announced the conclusion of the negotiations of a Partnership Agreement between the two regions, after more than two decades of negotiations. This agreement comes at a critical time for both sides, presenting opportunities for major mutual gains through strengthened geopolitical, economic, sustainability and security cooperation. The proposed EU-Mercosur agreement is composed of a political and cooperation pillar, and a trade pillar. The end of negotiations constitutes the first step in the process towards conclusion of the agreement. Find out more here.