The trade agreement to create a trade zone between the European Union and the Mercosur nations, the common market with which the EU signed an agreement on 29 June 2019 that has put an end to twenty years of negotiations, will enter provisionally in force on May 1st. Today, in fact, sending a note verbale to Paraguay, who is the legal guardian of the Mercosur treaties, the European Union has formally Notified to South American countries of the implementing instrument by taking the last procedural step necessary to start its provisional application.

The agreement will apply to all Mercosur countries that are will complete their ratification procedures and that they will have given notification to the EU before the end of March. Argentina, Brazil and Uruguay have already completed this procedure, while the Paraguay has recently ratified the agreement and is expected to communicate its The notification will be shortly.

Provisional application ensures the abolition of tariffs on certain products from day one, creating standards foreseeable for trade and investment. In addition, provisional application will ensure greater cooperation between the EU and Mercosur on urgent global issues such as workers' rights and climate change. Among the objectives of the agreement, there is also the creation of supply more resilient and reliable chains, which are critical in to establish a predictable flow of supplies of essential raw materials.

"Today," underlined the European Commissioner for Labour and Tourism, Trade, Maros Sefcovic - is an important step for Demonstrate our credibility as an important partner commercial. The priority now is to transform this EU-Mercosur agreement in concrete results, giving exporters the platform they need to seize new opportunities for trade, growth and jobs. The provisional application will allow us to start working on keep this promise. I look forward to this agreement realises its potential, strengthens our economy and strengthens our position in global trade, while completing all of our democratic procedures".