May 29, 2025 – NAXNews.com

European Council President António Costa announced on Thursday (29) that the long-awaited trade agreement between the European Union (EU) and Mercosur is expected to be officially signed by December 2025. The signing is anticipated to coincide with the Mercosur summit, which will be held this year in Brazil.

Speaking at the 1st Brazil–European Union Investment Forum, organized by ApexBrasil and the Brazilian Center for International Relations (CEBRI) in São Paulo, Costa emphasized that the final steps are now in motion to push the agreement forward.

“By June or July, the agreement will be submitted to the European Council. Our goal is to align the signing with the Mercosur summit in December. It’s a tight schedule, but we will strive to make it happen,” said Costa.

He also noted that the agreement is currently being translated into multiple languages, after which it will be reviewed by all 27 EU member states. He described the deal as “a new chapter in the relationship between the European Union and Brazil.”

The EU-Mercosur agreement was first announced in December 2024, concluding more than 25 years of negotiations. The comprehensive deal includes provisions for tariff reductions, investment facilitation, and economic integration between the two blocs.

Following the translation phase, the agreement will undergo the necessary approval procedures. In Brazil, it will require authorization by the Legislative Branch. In the EU, it must be ratified by both the European Council and the European Parliament before it can officially take effect.

Once finalized, the agreement will create one of the world’s largest bilateral free trade areas, covering approximately 718 million people—nearly 10% of the global population—and generating a combined GDP exceeding $22 trillion, representing around 25% of the global economy.