Finance
EU member states confirm approval of signing EU-Mercosur trade agreement
Published by Global Banking and Finance Review
Posted on January 9, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on January 9, 2026
BRUSSELS, Jan 9 (Reuters) - European Union member states confirmed on Friday a broad majority of them support a planned free trade agreement with South American bloc Mercosur, Cyprus, which holds the EU rotating presidency, said.
EU capitals had had until 5 p.m. Brussels time (1600 GMT) to confirm their votes in writing after ambassadors of the EU's 27 members signalled their provisional approval of the deal a few hours earlier.
The deal is set to be the largest trade accord the EU has concluded, although it will still require approval from the European Parliament before it can enter force.
(Reporting by Inti Landauro, editing by Philip Blenkinsop)
Mercosur is a South American trade bloc comprising Argentina, Brazil, Paraguay, and Uruguay, aimed at promoting free trade and economic integration among its member countries.
The European Parliament is the legislative body of the EU, responsible for debating and passing European laws, including those related to trade agreements.
Economic benefits refer to the positive financial impacts that result from a particular action or policy, such as increased trade, job creation, or improved economic growth.
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