On January 9, 2025, the Council of the European Union authorized the signing of the partnership and free trade agreement with Mercosur (the Latin American single market), marking a significant advance in the negotiations that began over twenty years ago. The decision paves the way for the formal signing of the agreement between the EU and the Mercosur countries. Before it can enter into force, it must be ratified by the European Parliament and, for matters of mixed competence, by the national parliaments of the Member States.

The agreement, which provides for a gradual reduction in tariffs on goods and services and the creation of a broader framework for economic and political cooperation, aims to create an integrated economic area involving around 700 million consumers.

Overall, this step confirms the strategic importance of European trade policy in a global context marked by growing geopolitical tensions and the need to diversify economic partnerships.