Mercosur–EU trade deal set for Jan. 17 signing in Paraguay

Argentina’s Foreign Minister Pablo Quirno announced on January 9 that the long-delayed trade agreement between the South American bloc Mercosur and the European Union will be signed on January 17 in Paraguay.

In a message on X, Quirno praised the breakthrough as “more trade, more investment and more jobs,” noting that the European Council had formally authorised the signing of the Mercosur–EU accord “after more than 30 years of negotiations.”

He stressed that the deal will deliver “wins for everyone,” explaining that Argentina and the other Mercosur members will secure preferential access to the European Union, which he described as the world’s third-largest economy with a population of 450 million and roughly 15 per cent of global GDP.

According to Quirno, the agreement provides that the EU will remove tariffs on 92 per cent of Mercosur exports and offer preferential access for an additional 7.5 per cent, covering 99 per cent of the bloc’s agricultural exports.

European Commission President Ursula von der Leyen endorsed the deal on Thursday. On Friday, EU member states gave the agreement provisional approval through a qualified-majority vote, clearing the way for the bloc to sign it in Paraguay later this month.

By Tamilla Hasanova