What the EU–Mercosur Free Trade Agreement Covers

EU Moves Forward with Mercosur Trade Deal

This Friday, the European Council gave its approval—garnering support from 21 out of 27 member states—for the free trade pact between the European Union and Mercosur. The decision followed heated debates, particularly after France sought to halt the agreement. With this vote, the EU has overcome a significant barrier on the path to ratifying the landmark deal, which was initially negotiated just over a year ago by the European Commission and the Mercosur countries: Argentina, Brazil, Paraguay, and Uruguay.

The agreement is set to establish the largest free trade zone in the world, opening up a market of more than 720 million people. Both sides had been expected to finalize the deal soon, marking a major step in international trade relations.