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The European Parliament’s decision to refer the EU-Mercosur free trade agreement (FTA) to the Court of Justice adds a further delay to one of the EU’s most important and long-running trade initiatives.
Commenting on the vote, Malte Lohan, CEO of AmCham EU, said: ‘Today’s vote by the European Parliament to refer the EU-Mercosur agreement to the Court of Justice is a self-inflicted setback for Europe’s economic interests and geopolitical relevance at a moment when the EU can least afford it.
After 25 years of negotiations, this should have been Europe stepping forward as a global trade leader and champion of win-win partnerships. It was an opportunity to strengthen Europe’s global position, diversify supply chains and open new opportunities in a fast-growing market of 284 million people.
Instead, this vote has chosen - yet again - delay.
Europe’s credibility as a trade powerhouse is now on the line. The EU must move decisively to get this agreement back on track.’
The EU-Mercosur FTA will deepen economic ties, reduce barriers to trade and strengthen long-term engagement with a key region. How this process now unfolds will be critical not only for the agreement itself, but also for confidence in the EU’s broader trade agenda.
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