CEFIC Celebrates EU-Mercosur Trade Deal Signing
European chemical industry associations, including CEFIC, celebrated the EU-Mercosur Free Trade Agreement signature as a major step opening Latin American markets to European exports while strengthening transatlantic supply chain resilience.
More than 28 European business associations, including the European Chemical Industry Council (CEFIC), enthusiastically celebrated the signing of the EU-Mercosur Free Trade Agreement as a historic milestone that establishes the world's largest trading bloc by eliminating trade barriers and removing tariffs on over 90% of EU exports to access markets serving 270 million consumers. This long-awaited agreement—reached after more than 25 years of negotiations—sends a powerful signal of the EU's commitment to open, rules-based global trade amid geopolitical and economic uncertainty, positioning it as a critical growth catalyst for European industry.
The agreement promises to boost EU exports by 39% to the Mercosur region while adding an estimated €77.6 billion to EU GDP by 2040, according to DG Trade calculations, enabling European companies across sectors to accelerate exports, attract new investments, diversify supply chains by sourcing essential raw materials and products from Mercosur countries, and strengthen overall competitiveness in the global marketplace.
President of the European Commission Ursula von der Leyen, President of the European Council Antonio Costa, and leaders from Mercosur countries witnessed the signing of the EU-Mercosur Partnership Agreement (EMPA) and the EU-Mercosur Interim Trade Agreement by EU Trade Commissioner Maroš Šefčovič and his Mercosur counterparts.
European Commission President, Ursula von der Leyen, said: “Today, two like-minded regions open a new chapter of opportunity for more than 700 million citizens. With this win-win partnership, we both stand to gain – economically, diplomatically and geopolitically. Our companies will create exports, growth and jobs. We will support each other in our clean and digital transitions. And our signal to the rest of the world is clear: the EU and Mercosur are choosing cooperation over competition, and partnership over polarisation.”
With the signature now complete, these business groups urgently called on the European Parliament to prioritize swift ratification without further delay, emphasizing that after a quarter-century of negotiations, Europe cannot afford to miss this opportunity to switch on its engine of economic growth, prosperity, and supply chain resilience.
