The European Union–Mercosur free trade agreement is a free trade agreement on which the EU and Mercosur reached agreement in principle in 2019.
The deal was announced on 28 June at the 2019 G20 Osaka summit after twenty years of negotiations.
Although there is agreement in principle, the final texts have not been finalised, signed or ratified and therefore have not entered into force.
If ratified, it would represent the largest trade deal struck by both the EU and Mercosur in terms of citizens involved.
The trade deal is part of a wider Association Agreement between the two blocs.
Besides trade, the association agreement would also deal with cooperation and political dialogue.
Negotiations on these two parts were concluded on 18 June 2020.
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