The European Union is set to finalize the pact with Argentina, Brazil, Paraguay, and Uruguay this weekend. Although the 27 member states can provisionally apply the agreement without the Eurochamber's consent, Brussels is actively seeking "the necessary majorities" to validate the provisional application ahead of the plenary vote, expected in April or May.
“"The idea is to have the necessary majorities within the European Parliament to achieve the broadest possible support for Mercosur, considering the historical importance of the trade pact."
The deal holds significant importance for Catalonia, which leads Spain's exports to the region, accounting for 27% of the total, according to a 2024 Acció report. While sectors like automotive components, machinery, and pharmaceuticals are expected to benefit, the agreement poses risks of increased competition for local products such as rice, wine, pork, and olive oil.
The agreement, which involves the gradual elimination of tariffs on 91% of EU exports to the South American bloc, faces strong opposition from farmers and environmental groups. To address these concerns, Brussels introduced safeguard clauses allowing investigations if import prices of sensitive products drop by 5% or if import volumes increase by the same margin.
