EU Signs Trade Agreement with Mercosur, Supported by Germany, Spain, and Sweden, Covering 780 Million People

Dec 15, 2024, 11:06 AM

After 25 years of negotiations, the European Union has signed a significant trade agreement with the Mercosur countries, which include Argentina, Brazil, Paraguay, and Uruguay. This deal, finalized this week, aims to create a free trade area encompassing approximately 780 million people. While the agreement has garnered strong support from Germany, Spain, and Sweden, its approval is contingent upon the backing of Poland and Italy, which could impact the EU's credibility as an economic partner. The German press has highlighted the necessity of this agreement for the EU's economic interests, emphasizing its potential to enhance the bloc's geopolitical stance amid global competition.