A coalition of 78 business associations from the EU and Mercosur has urged governments to finalize the EU-Mercosur Free Trade Agreement (FTA) negotiations. The joint statement, addressed to European and Mercosur leadership, highlights the agreement’s potential to enhance trade ties, bolster investment, and promote sustainable development.

In 2022, EU-Mercosur trade in goods and services exceeded €159 billion, with mutual investments nearing €380 billion, underpinning millions of jobs across both regions. The coalition emphasized that the FTA would address challenges such as geopolitical instability and supply chain disruptions while fostering economic recovery and growth.

The key benefits of the EU-Mercosur FTA include eliminating trade barriers to facilitate smoother exchanges of goods and services, thereby enhancing market access. It also aims to strengthen trade relationships, ensuring reliable access to critical resources and bolstering supply chain resilience.

Additionally, the agreement seeks to promote sustainability by advancing labor rights, improving environmental standards, and fostering sustainable development through deeper cooperation between the regions.

The associations view the FTA as a strategic opportunity to deepen ties and position both regions for competitiveness in the evolving global landscape. The statement calls for urgent action from policymakers to ratify the agreement, paving the way for a stronger economic partnership.

Signatories include prominent organizations like BusinessEurope, EURATEX, spiritsEurope, and Brazil’s CNI, among others. These groups collectively represent a diverse range of industries, including textiles, chemicals, automotive, and agriculture.

The coalition stressed that the agreement is essential for shared prosperity, urging swift political resolve to finalize and implement the deal.