Argentina and Uruguay have become the first founding members of the Mercosur bloc to ratify a long-negotiated free trade agreement with the European Union, advancing the creation of one of the world’s largest free trade areas.
The agreement, negotiated over 25 years, covers countries representing more than 700 million people and roughly a quarter of global gross domestic product.
In Argentina, the Senate approved the pact by a vote of 69 to three, following earlier approval by the Chamber of Deputies on February 12. The debate lasted four hours before lawmakers confirmed ratification.
Supporters highlighted expanded market access to the European Union, a bloc of 450 million consumers, with zero tariffs on key exports such as beef, citrus, and fresh and dried fruits. Some opposition lawmakers described the agreement as strategically significant in the context of global economic shifts, while cautioning about the potential effects of broader import liberalization on domestic industries.
In Uruguay, the lower house approved the agreement by a 91–2 vote, following unanimous support in the Senate the previous day. Parliamentary Secretary Virginia Ortiz formally announced approval of the interim trade agreement signed in Asunción on January 17, 2026, between Mercosur — comprising Argentina, Brazil, Paraguay, and Uruguay — and the European Union.
Lawmakers across political parties characterized the pact as a long-term state policy. Several members described it as a milestone in Uruguay’s trade strategy, noting the scale of the two blocs, which together represent more than 750 million people and over 20 percent of global GDP. Current bilateral trade between the blocs is estimated at approximately $130 billion.
Brazil and Paraguay, Mercosur’s other founding members, are expected to move forward with ratification in the coming weeks.
The trans-Atlantic agreement was signed on January 17 after years of negotiations that faced delays, including concerns within Europe about agricultural competition. Following the signing, some European lawmakers raised legal questions before the European Court of Justice regarding aspects of the agreement.
Ursula von der Leyen, President of the European Commission, has stated that the European Union intends to proceed once at least one Mercosur member has completed ratification.
If fully implemented, the agreement would establish one of the largest free trade zones globally, further strengthening economic ties between South America and Europe.
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