Uruguay and Argentina have ratified the Mercosur-European Union trade agreement, becoming the first countries in the bloc to do so after 25 years of negotiations.
On Thursday, Uruguay became the first Mercosur country to ratify the long-awaited free trade agreement with the European Union, following a decisive approval from its Congress. This marked a significant achievement for President Yamandú Orsi, as the treaty was passed with an overwhelming majority of 91 votes to 2 in the Chamber of Deputies, just one day after unanimous ratification by the Senate. This swift legislative process took just over a week, highlighting Uruguay's eagerness to lead among Mercosur members in this important agreement, which has been in negotiation for over 25 years.
Argentina followed closely behind, with its Senate approving the agreement just hours later. Under President Javier Milei, who had promised swift action, the Argentine Senate passed the trade deal with 69 votes in favor and 3 against, with no abstentions. Prior to the vote, a Parliamentary Commission reviewed the document and consulted with various productive and labor sectors, indicating the importance of this agreement to multiple stakeholders within Argentina.
This ratification is seen as a historical milestone and a positive signal to Europe regarding Mercosur's commitment to international trade partnerships. As both countries move forward with this agreement, it could pave the way for enhanced economic relations and trade opportunities between South America and Europe, potentially setting a precedent for other Mercosur members to follow suit in finalizing their ratifications.
