US EditionArgentina, Uruguay ratify EU-South America trade deal
- On Thursday, Uruguay and Argentina became the first founding Mercosur members to ratify a free-trade agreement with the European Union, advancing one of the world's largest trade zones.
- After 25 years of talks, the deal ended a negotiating deadlock and was signed on Jan. 17 in Asunción by EU‑Mercosur negotiators from countries home to more than 700 million people.
- In parliamentary votes, Uruguay's lower house approved the deal 91-2, mirroring the Senate's unanimous support, while Argentina's Senate ratified it 69-3 after the Chamber of Deputies' 203-42 vote earlier this month.
- The pact would eliminate tariffs on more than 90 percent of trade and cut barriers to industrial goods, giving South American producers easier access for meat, sugar, rice, honey and soybeans while boosting EU exports of vehicles, machinery, wine and spirits.
- European lawmakers quickly referred the pact to the EU's top court, and Brussels could provisionally implement the deal while farmers in some EU countries, including France, oppose it.
71 Articles
71 Articles
Uruguay and Argentina were the first countries to ratify the Mercosur Free Trade Agreement with the EU, which would allow the EU Commission to put the agreement into force provisionally, which would mean that the tariffs between Argentina and the European Union would be abolished before all sides ratified the deal. On Thursday, the House of Representatives in Uruguay approved the agreement by a clear majority of 91 votes to two. Two hours later,…
Argentina and Uruguay have voted in favor of approving the Mercosur agreement with the EU, which still requires EU approval.
The parliaments of Argentina and Uruguay ratified the trade agreement with the European Union. The pact will create the largest free trade zone in the world.
Daily Journal
Argentina, Uruguay ratify massive EU-South America trade deal
Argentina and Uruguay on Thursday ratified a massive trade deal with the European Union that has generated enthusiasm from Brasilia to Buenos Aires but sparked protests and a legal challenge in Europe.
Uruguay and Argentina have become the first countries to ratify the EU-Mercosur Agreement, in the context of which the European Union welcomes, following the resurgence expressed by the MEPs, which have reached the Court of Justice of the European Union (CJEU) report.
The Mercosur-EU agreement was approved in Argentina, after more than two days of negotiations, a pact that seeks improvements in trade.
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