Uruguayan FM confirms near completion of Mercosur-EU trade deal

MONTEVIDEO, Dec. 6 (Xinhua) — Uruguayan Foreign Minister Omar Paganini has confirmed that the Mercosur-European Union (EU) trade agreement is nearly finalized, during the 65th Summit of the South American bloc, which took place from Dec. 5 to 6 in Montevideo.
In a press conference at Mercosur’s headquarters on Thursday, Paganini announced that a consensus had been reached at the Ordinary Meeting of the Common Market Council, following direct negotiations with EU Trade Commissioner Maros Sefcovic.
He emphasized that “all the countries” in the bloc have expressed their “support for the text,” including Argentina, which will assume the temporary presidency of Mercosur for the first half of 2025.
“Tomorrow, there will be a meeting of leaders, and we will conclude the negotiation process,” Paganini said.
European Commission President Ursula von der Leyen arrived in Montevideo on Thursday afternoon to meet with Uruguayan President Luis Lacalle Pou. On Friday, she will lead the European delegation at the Mercosur-EU meeting, which will precede the summit of the South American bloc’s presidents.
Von der Leyen posted on X, “The EU-Mercosur deal is in sight. We’re going to work and seal it.”
“We have the opportunity to create a market of 700 million people — the largest trade and investment partnership the world has ever seen. Both regions will benefit,” she added.
An initial trade agreement between Mercosur and the EU was reached in June 2019 after 20 years of negotiations. However, its ratification has been delayed, and some parts of the agreement have been renegotiated.
Mercosur consists of Argentina, Brazil, Paraguay, and Uruguay, with Bolivia in the process of joining. ■