EU MEPs to debate Mercosur free trade agreement this week
The agreement requires Parliament’s green light to enter into force
12 February 2025
1 minute read
By: On Thursday, European Union MEPs will review the EU-Mercosur free-trade deal, amid rising unilateralism and in the context of concerns about the deal’s impact on European agriculture, according to a press briefing from the European Parliament.
The Commission and the founding Mercosur countries (Argentina, Brazil, Paraguay and Uruguay) reached a political agreement on a EU-Mercosur partnership in December of 2024. The agreement requires Parliament’s green light to enter into force. Key MEPs have welcomed the agreement, which was concluded after years of negotiations, while others have expressed concerns about transparency around the deal and its potential impact on EU farmers.
The free trade agreement is part of a broader partnership with Mercosur covering political dialogue and cooperation. Initially concluded in 2019, negotiations were reopened to strengthen sustainability commitments. If ratified, the deal reached in December would gradually phase out duties on 91% of EU exports to Mercosur and 92% of Mercosur exports to the EU. Sensitive agricultural imports would be controlled via quotas, in-quota duties, extended phasing-in periods, and safeguards to address potential market disruptions.
The agreement is undergoing legal review. Once translated into all official EU languages, the Commission will present it to Parliament and EU governments for approval. As with any trade agreement, Parliament must give its consent before it can be concluded and enter into force.
