Paraguay becomes final South American country to ratify Mercosur–EU pact

Paraguay has ratified the Mercosur–EU free trade agreement, becoming the final founding member to approve the deal and completing the South American side of the process. The agreement now awaits the signature of President Santiago Peña. 

On the European side, the European Commission, led by Ursula von der Leyen, has signalled it may provisionally apply the deal while a legal challenge is reviewed by the European Court of Justice. A final vote in the European Parliament is expected once proceedings conclude.

Negotiated over 25 years, the agreement would create a market of more than 700 million people, accounting for around a quarter of global GDP.

Supporters, including Deputy Rodrigo Gamarra, described the deal as historic. However, opposition remains in parts of Europe, particularly in France and among farming groups, citing concerns over agricultural competition.

ℹ️ AP News

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Authorities of the European Union and the South American bloc Mercosur pose during the signing ceremony of a free trade agreement, ending more than 25 years of negotiations, in Asuncion, Paraguay, January 17, 2026. REUTERS/Cesar Olmedo
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Paraguay becomes final South American country to ratify Mercosur–EU pact
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