EU-Mercosur Association Agreement participant Mercosur
The European Union–Mercosur free trade agreement is a proposed free trade agreement on which the European Union and Mercosur reached agreement in principle in 2019. The planned deal was announced on 28 June at the 2019 G20 Osaka summit after twenty years of negotiations. The agreement is criticized by NGOs, scientists, unions, farmers and indigenous people.Although there is agreement in principle, the final texts have not been finalised, signed, or ratified and therefore have not entered into force. If ratified, it would represent the largest trade deal struck by both the EU (512 mio) and Mercosur (260 mio), in terms of numbers of citizens involved. The draft trade deal is part of a wider Association Agreement between the two blocs. Besides trade, the association agreement would also deal with cooperation and political dialogue. Negotiations on these two parts were concluded on 18 June 2020.