SUMMARY :

The European Commission has proposed the signature and conclusion of the EU-Mercosur and EU-Mexico trade agreements.

More details :

On 3rd September, the European Commission submitted its proposals to the Council for the signature and conclusion of two major trade agreements: the EU-Mercosur Partnership Agreement (EMPA) and the EU-Mexico Modernised Global Agreement (MGA).

• The EU-Mercosur Agreement, covering Argentina, Brazil, Paraguay, and Uruguay, would create the world’s largest free trade zone, opening a market of more than 700 million consumers.
• The EU-Mexico Agreement, mainly focused on removing agri-food tariffs, will replace the current Free Trade Agreement in force since 2000.

Next steps:

Both the EMPA and the MGA require separate approval by the European Parliament and all Member States before they can enter into force. The Commission proposals include two sets of legal instruments for each agreement:

1. The full EU-Mercosur Partnership Agreement and EU-Mexico Modernised Global Agreement, which require ratification by all Member States.
2. Two Interim Trade Agreements (iTAs) - one for Mercosur and one for Mexico - covering only areas under exclusive EU competence. These will be ratified through the EU-only process (European Parliament + Council) and will remain in force until the full agreements enter into effect.

Relevant documents :

• Commission press release

1. EU-Mercosur Partnership Agreement (EMPA)
   
   1. EU Mercosur Agreement in focus
   2. Questions & Answers
   3. Tariff elimination schedule

2. EU-Mexico Modernised Global Agreement (MGA)
   
   1. EU Mexico Agreement in focus
   2. Questions & Answers

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