On February 26, 2026, Argentina officially ratified the free trade agreement between the Mercosur bloc and the European Union, becoming the second country to complete the ratification process after Uruguay. The Senate voted overwhelmingly in favor with 69 votes for and only 3 against, with no abstentions. This step marks a significant milestone in the ongoing efforts to deepen economic cooperation between the two regions.

The agreement, originally signed on January 17 in Asunción, aims to establish the largest free trade area in the world. It includes 27 EU member countries and the founding members of Mercosur: Argentina, Uruguay, Brazil, and Paraguay. The deal is poised to eliminate tariffs on over 90% of trade between the two blocs, potentially benefiting a combined population of over 700 million and representing around 30% of the global GDP.

The ratification comes at a crucial time as global trade dynamics continue to evolve, and this agreement is expected to enhance cooperation and economic opportunities between Latin America and Europe. With Brazil and Paraguay reportedly already starting the ratification process, the focus will now shift to how these changes will impact domestic markets and trade relations.