Historic EU-Mercosur Trade Deal Sealed

EU and Mercosur have signed a landmark free trade agreement, marking the EU's largest such deal after 25 years of negotiation. While awaited consent from the European Parliament poses challenges, approval from Mercosur's member countries, including Argentina, Brazil, Paraguay, and Uruguay, is likely to proceed smoothly.

The European Union and Mercosur have inked a groundbreaking free trade agreement, culminating 25 years of intense negotiation. Signed in Paraguay, the deal paves the way for the EU's largest trade accord ever.

The agreement now faces scrutiny in Europe, particularly requiring the European Parliament's consent. Debates are expected as the deal has been contentious in several quarters.

Conversely, ratification by Mercosur member countries — Argentina, Brazil, Paraguay, and Uruguay — is anticipated to move forward without significant hurdles.

(With inputs from agencies.)