The European Parliament initiates the legal process on the EU–Mercosur trade agreement
The European Parliament (EP) has decided to initiate a legal process regarding the trade agreement signed between the European Union (EU) and the Southern Common Market (MERCOSUR).
The plenary session of the European Parliament, held in Strasbourg, discussed the trade agreement signed on January 17 between the EU and the MERCOSUR countries — Argentina, Brazil, Paraguay and Uruguay.
During the session, a proposal was put to the vote to request a legal opinion from the European Court of Justice on whether the EU–MERCOSUR trade agreement complies with international EU treaties. The proposal was approved by 334 votes in favor against 324. After the adoption of this decision, the European Court of Justice will consider the legal aspects of the agreement. It is known that it takes about two years for such cases to be considered by the Court.
The trade agreement between the EU and MERCOSUR, which was negotiated for 25 years and signed on January 17, will enter into force after its approval by both the European Parliament and the EU Council. According to the agreement, tariff breaks are expected for some agricultural products such as beef, poultry and dairy products, while MERCOSUR countries are expected to further open their markets to European manufactured goods.
The Agreement also contains protective provisions to restrict market access for agricultural products imported from MERCOSUR, if deemed necessary. However, farmers' organizations across Europe have stated that they do not consider these measures sufficient.
Brussels views the agreement as a major geopolitical achievement that will strengthen the EU's trade presence and influence in Latin America. While Germany and Spain support the deal, several member states, notably France, Poland and Hungary, as well as many farming groups, have spoken out against it.
Author: SteelRadar Editorial Team
Steelradar.com