<h6><strong>Ane Barcos</strong></h6> <h4><strong>The European Commission has announced that Brussels will approve the texts of the trade agreements with Mexico and Mercosur this Wednesday.</strong></h4> "This was the next step planned after the conclusion of the negotiations themselves last December, first with Mercosur and shortly after with Mexico," said Commission spokesperson Paula Pino during the EU's daily press conference. The College of Commissioners will approve the texts, and Trade Commissioner Maroš Šefčovič is expected to appear later alongside High Representative Kaja Kallas to provide further details. After more than two decades of talks, the European Union and Mercosur concluded negotiations for their trade agreement in December 2024. European Commission President Ursula von der Leyen then emphasized that the pact represents "one of the largest trade agreements the world has ever seen, opening doors to investment, generating new job opportunities, and offering better prices for citizens and businesses in both regions." Von der Leyen emphasized that the treaty protects the interests of European farmers through strong safeguards and guarantees the protection of more than 350 EU products. Mercosur exporters must also comply with strict European health and food safety standards. The agreement, considered the largest of its kind, seeks to boost geopolitical, economic, and sustainability cooperation, strengthening ties between strategic partners. It also opens new trade and investment opportunities, diversifies supply chains, and will result in estimated annual savings of €4 billion in export duties for European companies. Following the conclusion of the negotiations, Prime Minister Pedro Sánchez hailed this "historic agreement with Mercosur to build an unprecedented economic bridge between Europe and Latin America" and assured that "Spain will work to ensure this agreement is approved by a majority in the Council," because "open trade with our sister Latin American countries will make us all more prosperous and stronger." In parallel, the EU and Mexico finalized the modernization of their comprehensive agreement in January 2025, after nine years of negotiations. The conclusion was reached during a telephone conversation between Commissioner Šefčovič and Mexico's Secretary of Economy, Marcelo Ebrard. The new framework strengthens political dialogue, cooperation, and economic relations between the two parties.
