2026-07-15 22:10:28 European Union and Mercosur sign major deal to create one of world’s biggest free trade zones after 25 years of talks – NEW WTOP Skip to main content

European Union and Mercosur sign major deal to create one of world’s biggest free trade zones after 25 years of talks

By The Associated Press

ASUNCIÓN, Paraguay (AP) — European Union and Mercosur sign major deal to create one of world’s biggest free trade zones after 25 years of talks.

Uruguay and Argentina become first Mercosur members to ratify the EU trade pact

By The Associated Press
BUENOS AIRES (AP) — Uruguay and Argentina on Thursday became the first founding members of the Mercosur bloc of South American nations to ratify a long-sought free-trade agreement with the European Union to establish one of the world’s largest free-trade zones. The deal has been negotiated for a quarter century among countries that are now home to more than 700 million people and account for a quarter of global gross domestic product. It passed Uruguay’s lower house with a landslide 91-2 vote, mirroring the Senate’s unanimous support the previous day. “Uruguay has sent a strong message to the United States, Mercosur and Europe: that we have waited 25 years, but we are not willing to wait a single second longer," Congressman Juan Martín Rodríguez said after the vote. The Argentine Senate also ratified the agreement on Thursday with an overwhelming 69-3 vote and no abstentions, following a decisive approval by the Chamber of Deputies on Feb. 12. Though the ruling party pushed for a swift session to ensure Argentina became the first country to ratify the trade deal, deliberations lasted four hours.
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