Three Perspectives on the Mercosur–European Union Agreement

Just a trade deal?

After 25 years of negotiations and discussions, an agreement between the EU and Mercosur is within reach. In December 2024, the two partners announced the political conclusion of the association of the agreement, which could eventually be greenlit and ratified by the end of 2025. 

According to the European Union's definition of international policy, an 'association agreement' implies commitments in the areas of political dialogue and cooperation. However, the negotiations have always focused on trade.

Voices from the Mercosur region

Official voices on the Mercosur side have defended the agreement, emphasising the importance of reaffirming the regional bloc's status as a powerful player in international trade negotiations. The EU has highlighted the importance of an agreement that provides access to a significant and attractive market, given the region's availability of raw materials and energy — essential goods for strategic autonomy. At the same time, various critical voices from trade unions and civil society in both regions have warned of the agreement's persistent asymmetry.

This series of analyses from Latin American trade experts, published by FES Uruguay, examines the Mercosur–European Union agreement on different levels. It provides critical insights into the agreement's economic, environmental, and geopolitical impacts, and highlights the risks associated with the regional bloc's subordinate integration into global trade.