Published : 18 Jan 2026, 07:47 AM
Updated : 21 Aug 2026, 03:02 PM
Top officials from the EU and the South American bloc Mercosur signed a free trade agreement on Saturday in Paraguay, paving the way for the European Union's largest ever trade accord after 25 years of negotiations.
The agreement, which has been highly contested in Europe, must now gain the consent of the European Parliament. It also must be ratified by legislatures of Mercosur members Argentina, Brazil, Paraguay and Uruguay, which is expected to be a smoother process.
