Argentina accelerates to be the first country to approve the agreement between Mercosur and the European Union
Argentina is set to become the first country to approve the Mercosur-European Union agreement after a swift approval in the Chamber of Deputies.
Javier Milei has made it a priority for Argentina to be the first nation to approve the trade agreement between Mercosur and the European Union (EU). Following a quick decision, the Chamber of Deputies passed the agreement, which will now move to the Senate for ratification, a process expected to proceed without issues. The vote concluded with 203 in favor, 42 against, and four abstentions, showcasing a coalition of support from the ruling La Libertad Avanza (LLA) party, liberal PRO, social-democratic UCR, and a significant faction of the Peronist party.
In discussions surrounding the ratification, supporters emphasized that the agreement would create an integrated economic space comprising more than 700 million people, collectively representing approximately 30% of the world's GDP and nearly 35% of global trade. The endorsement across the political spectrum signals a united front among Argentine lawmakers in recognizing the potential benefits of this trade pact, not just domestically, but for the region as a whole.
Milei's particular focus on ensuring Argentina's precedence over its Mercosur partners, notably Brazil, Uruguay, and Paraguay, highlights the geopolitical dynamics at play. Achieving this milestone would not only underline Argentina's proactive engagement in international trade but also enable it to potentially reap economic rewards ahead of its neighbors, setting a significant precedent within the South American trade group.