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Paraguay becomes final South American country to approve Mercosur-European Union trade deal
Paraguay's ratification completes Mercosur's approval, enabling tariff-free access for over 90% of exports to the EU and advancing provisional application of the trade pact.
- Paraguay became the final Mercosur founding member to ratify the trade agreement with the European Union after years of negotiations.
- The agreement awaits President Santiago Peña's signature and the EU's provisional ratification before taking effect while legal challenges proceed.
- The deal aims to create one of the world's largest markets and strengthen economic ties between the two blocs.
48 Articles
48 Articles
Paraguay has completed the process of ratification of the Mercosur countries to the trade agreement with the European Union. The approval of the pact unanimously in the Paraguayan Chamber of Deputies this Tuesday follows the steps taken in the previous weeks by the congresses of the other three founding states of the South American bloc: Brazil, Argentina and Uruguay. Following the parliamentary ratification and the approval of the EU for its pr…
The South American bloc completes the ratification of the free trade agreement after the approval of Paraguay.
The Chamber of Deputies unanimously voted for the adoption of the trade agreement, and by ratifying it on Tuesday Paraguay became the last signatory to the South American bloc to do so.
As the last South American country involved, Paraguay has ratified the Mercosur Agreement with the European Union.
Paraguay gave its final nod to the agreement on Tuesday. The agreement is still being reviewed at the EU level by the Court of Justice of the European Union.
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