Most EU member states approve Mercosur deal

A majority of European Union countries have approved the free trade agreement between the Mercosur bloc – consisting of Argentina, Brazil, Paraguay and Uruguay – and the EU, thus bringing a conclusion to almost 25 years of negotiations.

Countries such as Germany and Spain claimed that the agreement will help to offset business that was lost due to US import tariffs, as well as to reduce reliance on China by securing access to critical minerals. Nevertheless, Austria, France, Hungary, Ireland and Poland opposed the trade deal, while Belgium abstained.

The deal includes the elimination of import tariffs on more than 90 per cent of products, and is hoped to produce more business opportunities while boosting European investment in strategic sectors. Exports from Europe to Mercosur countries are projected to increase by almost EUR 50 billion by 2040, while Mercosur sales into the EU are expected to grow by up to EUR 9 billion.

Publishing Data

This article was originally published on page 3 of the February 2026 issue of SATRA Bulletin.

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