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Mercosur-EU Free Trade Agreement Talks Concluded

After more than two decades of negotiations, the European Union and Mercosur countries (Argentina, Brazil, Paraguay, and Uruguay) have concluded talks on a free trade agreement. European Commission President Ursula von der Leyen announced the development on December 6 during a summit in Uruguay. Ratification by all 27 EU member states is required to formalize the deal.

"It is the biggest agreement when it comes to the protection of EU food and drinks products,” according to the European Commission and "the agreement involves 25% of the global economy and some 780 million people..."

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