On Thursday, the Argentine Senate overwhelmingly ratified the free trade agreement between Mercosur and the European Union, with 69 votes in favor and only 3 against, marking a significant achievement after over two decades of negotiations. Chancellor Pablo Quirno celebrated the decision from the stands, highlighting the political backing for the agreement despite its current lack of immediate enforcement. The reality is that the agreement, signed on January 17 in Asunción, will not come into effect right away due to a pending review by the European Court of Justice, which could delay the agreement's implementation by at least a year.

Notably, the Argentine parliamentary dynamics were sensitive, with divisions observed during the earlier voting in the House of Deputies. The Peronist bloc in the Senate reached a consensus to support the agreement, despite concerns raised by representatives from Buenos Aires who argue that the deal could have adverse effects on the local industry. Notably, only a few senators, including Juliana Di Tullio, Eduardo "Wado" de Pedro, and Cristina López, voiced opposition, reflecting the complex political landscape surrounding this significant trade deal.

This decision comes amidst pressure from President Javier Milei, who is advocating for swift results from the agreement. The Senate's approval is seen as a crucial step, yet the pending legal reconsideration in the EU adds uncertainty regarding how soon the benefits of free trade will be realized for both Mercosur and the EU. As this situation unfolds, it will be important to monitor the responses from local industries and political factions as the implementation period approaches and as stakeholders react to these developments.