The ratification of the Interim Trade Agreement between Mercosur and the European Union follows recent approvals in South America. Uruguay’s Chamber of Deputies and Argentina’s Senate endorsed the agreement on February 26, granting final approval to the text, which had already been cleared by Uruguay’s Senate and Argentina’s lower house.
In Brazil, the agreement has been approved by the Chamber of Deputies and is now awaiting consideration by the Federal Senate. In Paraguay, it is currently under legislative review and is expected to be addressed once the parliamentary session begins. Both countries have publicly expressed their intention to complete the approval process promptly.
The agreement was signed on January 17 in Asunción, Paraguay, by Mercosur member states and the European Commission. Once implemented, it will establish one of the largest free trade areas in the world, covering close to 700 million consumers.
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According to the official statement issued by von der Leyen, provisional application is, by definition, temporary. Under EU treaties, the agreement can only be fully concluded once the European Parliament grants its consent. The Commission has indicated that it will continue working closely with EU institutions, member states and stakeholders to ensure a smooth and transparent process.
Von der Leyen described the agreement as “one of the most significant trade agreements of the first half of this century.” She emphasized that it provides a platform for deeper political engagement with partners that share Europe’s commitment to openness, partnership and rules-based trade.
She added that open and rules-based trade delivers positive outcomes for all parties involved and framed the agreement as part of Europe’s broader strategy to strengthen its economic resilience and global position. According to the Commission president, the deal is intended to foster growth, enhance strategic autonomy and ensure that European businesses, workers and citizens benefit from expanded trade opportunities as soon as possible.
