EU and Mercosur Poised to Sign Historic Trade Deal After 25 Years at Uruguay Summit

Dec 5, 2024, 12:38 PM

European Commission President Ursula von der Leyen has arrived in Montevideo, Uruguay, to attend the Mercosur Summit, signaling that the long-awaited trade agreement between the European Union and Mercosur is close to completion. Von der Leyen stated that the "finish line is in sight" for the historic agreement, which would create a trans-Atlantic market of 700 million people after 25 years of negotiations. Leaders from Brazil, Argentina, Paraguay, and Uruguay are expected to announce the conclusion of the deal during the summit on December 5-6. Despite the progress, France has expressed opposition to the deal.