Negotiations on the Political and Cooperation Pillars of the MERCOSUR–EU Agreement Conclude

On June 18, 2020, under Paraguay’s leadership as Pro Tempore Presidency of MERCOSUR 2020, negotiations on the political and cooperation chapters of the MERCOSUR–European Union Bi-Regional Association Agreement were concluded.

This milestone represents a significant step toward the completion of the efforts undertaken by both blocs to finalize a historic agreement. The negotiations have spanned over the past twenty years and aim to create favorable conditions for more fluid exchanges in various areas, thereby strengthening the relationship between two regions committed to deepening their ties through people-centered, forward-looking initiatives focused on well-being.

Within this context, the promotion of shared prosperity plays a central role, along with the negotiating parties’ commitment to shared principles and values, such as democracy, respect for the rule of law and human rights, inclusive social development, environmental conservation, and international cooperation, among others.

A few pending issues remain to be resolved through consensus texts concerning the institutional and trade pillars. These documents may be finalized in the near future, paving the way for the legal procedures that will culminate in the signing of this historic agreement.