Questions and answers on the EU-Mercosur partnership agreement

European Commission - Questions and answers Questions and answers on the EU-Mercosur partnership agreement Brussels, 6 December 2024 Why has the EU negotiated a partnership agreement with Mercosur? Mercosur is a big market for EU exports and it was until now the only major trading partner in Latin America with which the EU did not have a preferential trade agreement. EU firms exported to the four founding countries of Mercosur: €56 billion in goods (in 2023), and €28 billion in services (in 2022). Mercosur's economies are currently highly protected and European firms face many trade barriers when exporting there, which makes it hard for them to compete under fair conditions. These include: high import duties burdensome procedures, and technical regulations and standards which differ from international standards. The EU is Mercosur's second-biggest trade in goods partner, after China and ahead of the United States. The EU accounts for 16.9% of Mercosur's total trade in 2023. Mercosur is the EU's tenthlargest trade in goods partner. There is huge potential for EU firms to export even more to this large market of over 273 million people. The EU already has trade deals in place with nearly all other countries in Latin America. Securing an agreement with the Mercosur countries allows us to further extend preferential access to EU exporters and strengthen our political ties with Latin American countries. The EU's partnership agreement with Mercosur...