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Today marks a historic milestone with the signing of the EU-Mercosur Trade Agreement, creating the biggest trading block in the world. European business – represented by more than 28 associations across a wide range of sectors – warmly welcomes this signature. It sends a strong and timely signal that the EU remains open and is committed to rules-based global trade. In a time of global uncertainty, this agreement is a key growth booster.

By opening access to over 270 million consumers via the elimination of trade barriers and the removal of tariffs on over 90% of EU exports, the agreement provides the thrust European companies need to export, invest, and grow, as well as to diversify their supply chains, sourcing essential products and raw materials from Mercosur. By 2040, according to DG Trade’s calculations, the agreement is expected to add 77.6 billion euros to the EU GDP, resulting in a 39% increase in EU exports to Mercosur.

With the agreement now signed, the ball is firmly in the court of the European Parliament in ensuring rapid ratification. We therefore call on Members of the European Parliament to give their consent and allow Europe’s engine of economic growth and prosperity to be switched on and move ahead decisively. After over 25 years of negotiations, we are finally in sight of the finish line. We cannot afford to wait any longer.

Developing advanced artificial intelligence (AI) capabilities is central to Europe’s digital ambitions. With a new €175 million investment, Workday is reinforcing this priority by establishing an AI Centre of Excellence in Dublin. Building on its long-standing research and development presence, the company will expand product development and create more than 200 specialised roles. Workday is also deepening its commitment to skills, partnering with national training networks and universities to equip employees with cutting-edge AI expertise. Through these collaborations, Workday is helping to drive innovation, strengthen Europe’s digital competitiveness and support the next generation of AI talent. Discover more on Invested in Europe. 

EU Member States’ decision to approve the EU-Mercosur free trade agreement is a major victory for the EU’s free trade agenda. For companies in the EU, the agreement promises to support deeper integration of value chains and facilitate access to a market of 284 million consumers. This will contribute to more resilient and diversified supply chains, including access to critical raw materials essential for the EU’s economic security and industrial growth.

AmCham EU praises the European Commission for its work with Member States to ensure the deal benefits all sectors of the EU economy. By concluding Mercosur’s first trade agreement with a major global partner, the EU demonstrates its commitment to open and rules-based trade. The European Parliament must now approve the agreement without delay, so that – after 25 years of negotiations – businesses and citizens can start benefiting from this deal.

Reacting to the news, Malte Lohan, CEO, AmCham EU, stressed the importance of the agreement: ‘The Council’s decision is a timely one. In today’s world, the EU needs to boost its economic competitiveness and maintain its free trade leadership. The EU-Mercosur agreement ticks both boxes’.

‘The business case is clear; the geopolitical case is clear. It is now the Parliament’s job to see the agreement across the finish line’, he added.