On February 26, Uruguay became the first country in the Mercosur region to ratify the trade agreement with the European Union, a significant advancement in regional economic integration. The Legislative Power of Uruguay approved the treaty, enabling it to take effect bilaterally between Uruguay and the European Union once the EU completes its own ratification process. This agreement was initially signed on January 17 in Asunción, Paraguay, involving Mercosur countries and the European Commission, representing a crucial development towards establishing a larger market of nearly 700 million consumers.

During the announcement, Didier Olmedo, the Paraguayan ambassador and pro tempore president of the Mercosur Permanent Representatives Committee, celebrated Uruguay's ratification as a historic milestone for the region. His comments underline the importance of this agreement in strengthening trade ties between South America and Europe, as it is projected to enhance economic opportunities and cooperation in various sectors. With Uruguay taking the lead, other Mercosur member countries may be incentivized to follow suit, potentially accelerating the agreement's implementation across the bloc.

The ratification highlights Uruguay's proactive approach in international trade relations, standing out within a bloc that has historically faced delays in solidifying such agreements. As the first to ratify, Uruguay not only positions itself favorably within Mercosur but also sets a precedent for its neighbors, emphasizing the importance of collaboration and economic integration in a global context.