European Commission President Ursula von der Leyen speaks during the signing ceremony of the EU-Mercosur trade agreement.Luis Robayo / AFP via Getty Images)

EU and Mercosur seal historic trade deal  – POLITICO

by · POLITICO

The European Union and the Mercosur bloc on Saturday signed their long-awaited trade agreement, sealing one of the world’s biggest free-trade deals after more than 25 years of negotiations and repeated political standoffs.

European Commission President Ursula von der Leyen and European Council President António Costa attended the ceremony in Asunción, Paraguay, alongside Mercosur leaders from Argentina, Uruguay and host country Paraguay. Brazilian President Luiz Inácio Lula da Silva, a key proponent of the pact, did not attend, delegating representation to his foreign minister.

“This agreement sends a strong signal to the world,” von der Leyen said at the ceremony. “It reflects a clear and deliberate choice. We choose fair trade over tariffs, we choose a productive, long-term partnership.”