Mercosur news: expected to be provisionally applied in the coming months

EU-Mercosur: Council greenlights safeguards for agricultural products

The Council today formally adopted the regulation that implements the bilateral safeguard clauses of the EU-Mercosur Partnership Agreement and the EU-Mercosur Interim Trade Agreement for agricultural products. The regulation aims to strengthen protections for EU farmers by allowing safeguard measures to be swiftly applied in cases where imports from Mercosur partners threaten to cause serious injury to EU producers. Hungary voted against, while Austria and Belgium abstained

The trade agreement – covering Argentina, Brazil, Paraguay, and Uruguay –  is expected to be provisionally applied in the coming months after Montevideo and Buenos Aires fully ratified it last week. Brasília followed on Wednesday.

Brazil ratifies EU-Mercosur trade deal

Brazil’s Senate ratified a deal between the Mercosur bloc and the European Union that creates one of the world’s largest free trade areas.

Together, the EU and Mercosur account for 30% of global GDP and more than 700 million consumers.

Intellectual Property

The EU-Mercosur Partnership Agreement (EMPA) will put an end to unfair competition by Mercosur products that imitate authentic EU products by protecting 344 EU Geographical Indications.

The EU-Mexico Modernised Global Agreement (MGA) will expand protection from imitation to 568 iconic traditional high-quality European food and drink products (Geographical Indications).