Feb 26 • 17:40 UTC 🇪🇸 Spain El Mundo

Uruguay ahead of Argentina and becomes the first Mercosur country to approve the trade agreement with the EU

Uruguay has become the first Mercosur country to ratify the trade agreement with the European Union, gaining an edge over Argentina and Brazil.

Uruguay has made history by becoming the first country in the Mercosur trade bloc to feature the parliamentary ratification of the significant trade agreement with the European Union. This milestone symbolizes not only Uruguay's swift political action but also reflects a stark contrast to the ongoing uncertainties faced in Europe regarding the trade deal. The sense of excitement surrounding the agreement has permeated South America, suggesting a notable difference in regional perspectives towards such international partnerships, especially amid mixed sentiments prevailing in Europe.

The ratification process in Uruguay's National Parliament saw overwhelming support in the Chamber of Deputies with a unanimous approval, although there was a solitary dissenting vote in the Senate from the small Identidad Soberana party, which criticized the treaty labeling it as “nefarious.” Senator Daniel Caggiani from the left-leaning Frente Amplio party emphasized that this agreement is crucial for elevating Uruguay's productive development, indicating strong political backing for the deal amidst a generally optimistic sentiment in the Uruguayan political climate.

As Argentina prepares to ratify the agreement shortly and Brazil follows suit in the coming days, it will be interesting to observe how these developments influence the dynamics of trade relations in the region. Uruguay’s early approval positions the nation as a leader within Mercosur and may set a precedent for future international agreements, reflecting its strategic priorities amidst shifting global trade trends.

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