Eduardo González/Ane Barcos
The Spanish government has called the decision by European Union ambassadors to provisionally approve the trade agreement with the Mercosur bloc “extraordinary news,” despite France’s opposition.
The consensus for the provisional approval of the agreement with Mercosur, comprised of Argentina, Brazil, Paraguay, and Uruguay, was reached with the support of 21 of the 27 member states. This agreement, which brings to a close more than 25 years of negotiations, was achieved without the support of France, the pact’s main opponent.
“Finally. After three decades of negotiations, the EU will finalize a new trade agreement with the Mercosur countries,” wrote Prime Minister Pedro Sánchez on social media. “Thanks to this agreement, Spanish companies will be able to enter new markets, export more, and create more jobs, and Europe will be able to maintain a strong link with that sister and strategic region that is Latin America,” he emphasized. “In today’s world, not everything is tariffs, threats, and bad news. Some of us are building new bridges and alliances to forge shared prosperity,” he added.
“In these very complicated times we are living through, today, precisely today, we received extraordinary news: the European Union has finally said yes to Mercosur, something that Spanish diplomacy and many of the ambassadors stationed in European Union and Latin American countries present here today have been promoting and working towards for a long time,” Foreign Minister José Manuel Albares declared during the closing ceremony of the 10th Conference of Ambassadors.
Albares himself warned the previous day, during the opening of the Conference (held at the Ministry of Foreign Affairs in Madrid), that “the agreement with Mercosur must be concluded now. We have been delaying this negotiation for 25 years; there are no more excuses for postponing it.” According to the minister, the agreement “will serve to diversify our trade relations” and will help to create “the most important and extensive free trade area in the world, encompassing 700 million people, and would represent annual savings of more than 4 billion euros in tariffs.” “This is an essential step for Europe, for Latin America, and therefore an essential step for Spain, because it is not only a trade agreement, but also a political commitment of partnership that we are offering to that region of the world,” he added.
For his part, King Felipe VI highlighted in his closing remarks Spain’s ability to build consensus within the EU and to help “fully develop the Mercosur agreement, which is so important for the Union and, of course, for our country.” “Without a doubt, we are fortunate in this regard,” he added.
The agreement was supported by 21 of the 27 EU member states, including Spain, Germany, and Italy. Italy, which had blocked the vote in December 2025 due to concerns about the agreement’s impact on its agriculture, changed its position following the European Commission’s proposal for a €45 billion modernization fund.
This fund is intended to support the hardest-hit sectors of European agriculture, such as beef, sugar, rice, and citrus, with the aim of mitigating competition from products imported from Mercosur. The vote must now be formalized in a written document, which is expected before 5:00 p.m. this Friday, according to Reuters.
The agreement between the European Union and Mercosur opens access to a market of 780 million people, representing approximately 25% of global GDP. The elimination or reduction of up to 90% of bilateral tariffs seeks to encourage increased trade and investment between the two blocs, especially for small and medium-sized enterprises (SMEs).
According to the European Union, the agreement also aims to promote shared values and sustainable development, with a particular focus on strengthening labor rights, combating climate change, protecting the environment, and promoting responsible business practices.
Extraordinary meeting of Agriculture ministers
The European Commission convened an extraordinary meeting with EU agriculture ministers last Wednesday, two days before the final vote. Following the meeting, Agriculture Commissioner Christophe Hansen emphasized that, while concerns remained about protection measures for European producers, several ministers underscored the economic and geopolitical opportunities the agreement offers, particularly in the current global context.
For his part, Trade Commissioner Maroš Šefčovič stressed the importance of the Mercosur agreement, considering it the largest ever negotiated by the EU. According to Šefčovič, the agreement will allow for a 50% increase in European agri-food exports to the region. However, he also acknowledged that, in response to concerns, the European Commission has proposed “unprecedented safeguards,” such as stricter controls on imported products to protect the European internal market.
Increased farmers’ protests
In the context of the imminent signing of the agreement, EU farmers have intensified their protests against a pact that has been under negotiation for more than two decades. In France, farmers fear that imports of cheaper products from Mercosur could affect the competitiveness of European agriculture.
This discontent has led to mass protests in several EU countries, including road blockades and demonstrations in France, Belgium, Poland, Spain, and other countries, where farmers have called for the rejection of the agreement.
With the provisional approval of EU ambassadors, the path is clear for the official signing of the agreement. However, its final ratification will depend on the approval of the European Parliament.