The European Union has notified the Mercosur countries of the instrument for the provisional application of the EU-Mercosur Interim Trade Agreement.
By sending its ‘note verbale’ to Paraguay, the legal depositary of Mercosur treaties, the European Commission has taken the final procedural step required for the provisional application of the agreement, in accordance with the Council Decision of 9 January.
The Interim Trade Agreement will therefore be provisionally applied from 1 May between the EU and all Mercosur countries that complete their ratification procedures and have notified the EU by the end of March. Argentina, Brazil and Uruguay have already done so. Paraguay has recently ratified the agreement and is expected to send its notification shortly.
Provisional application ensures the removal of tariffs on certain products from day one, creating predictable rules for trade and investment. EU businesses, consumers and farmers will thus be able to start reaping the benefits of the agreement immediately, whilst sensitive sectors of the EU economy will be fully protected by robust safeguards.
Provisional application will also ensure greater cooperation between the EU and Mercosur on pressing global issues such as labour rights and climate change. It will create more resilient and reliable supply chains, which are crucial in particular for the predictable flow of critical raw materials.
Exporters can find out more about how to benefit from this agreement via the ‘Access2Markets’ platform. All information will be available online shortly.
Trade Commissioner Maroš Šefčovič said:“Today we are taking an important step towards demonstrating our credibility as a key trading partner. The priority now is to turn this EU-Mercosur agreement into concrete results, giving EU exporters the platform they need to seize new opportunities for trade, growth and jobs. Provisional application will allow us to start delivering on this promise. I look forward to this agreement reaching its full potential, strengthening our economy and reinforcing our position in global trade, whilst we complete all democratic procedures.”
Further information: European Commission







Leave a Reply