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Today marks a historic milestone with the signing of the EU-Mercosur Trade Agreement, creating the biggest trading block in the world. European business – represented by more than 28 associations across a wide range of sectors – warmly welcomes this signature. It sends a strong and timely signal that the EU remains open and is committed to rules-based global trade. In a time of global uncertainty, this agreement is a key growth booster.

By opening access to over 270 million consumers via the elimination of trade barriers and the removal of tariffs on over 90% of EU exports, the agreement provides the thrust European companies need to export, invest, and grow, as well as to diversify their supply chains, sourcing essential products and raw materials from Mercosur. By 2040, according to DG Trade’s calculations, the agreement is expected to add 77.6 billion euros to the EU GDP, resulting in a 39% increase in EU exports to Mercosur.

With the agreement now signed, the ball is firmly in the court of the European Parliament in ensuring rapid ratification. We therefore call on Members of the European Parliament to give their consent and allow Europe’s engine of economic growth and prosperity to be switched on and move ahead decisively. After over 25 years of negotiations, we are finally in sight of the finish line. We cannot afford to wait any longer.

EU Member States’ decision to approve the EU-Mercosur free trade agreement is a major victory for the EU’s free trade agenda. For companies in the EU, the agreement promises to support deeper integration of value chains and facilitate access to a market of 284 million consumers. This will contribute to more resilient and diversified supply chains, including access to critical raw materials essential for the EU’s economic security and industrial growth.

AmCham EU praises the European Commission for its work with Member States to ensure the deal benefits all sectors of the EU economy. By concluding Mercosur’s first trade agreement with a major global partner, the EU demonstrates its commitment to open and rules-based trade. The European Parliament must now approve the agreement without delay, so that – after 25 years of negotiations – businesses and citizens can start benefiting from this deal.

Reacting to the news, Malte Lohan, CEO, AmCham EU, stressed the importance of the agreement: ‘The Council’s decision is a timely one. In today’s world, the EU needs to boost its economic competitiveness and maintain its free trade leadership. The EU-Mercosur agreement ticks both boxes’.

‘The business case is clear; the geopolitical case is clear. It is now the Parliament’s job to see the agreement across the finish line’, he added.

On Thursday, 27 March, AmCham EU hosted a roundtable on how to navigate e-commerce challenges, focusing on tools for customs and enforcement. The first section was devoted to how the EU is addressing today's challenges and how it can expand its toolkit to be more effective. Afterwards participants examined how we can get ahead of future hurdles through uptake of new tools. 

During the meeting, participants heard from Vanesa Hernandez Guerrero, Head of Unit, Customs Legislation, Directorate-General for Taxation and Customs Union, European Commission; Walter van der Meiren, Manager, Brokerage Division, UPS; Giulia Buttini, Director, Government Affairs and Public Policy, HP Inc.; Sophie Claessens, Director, EU Public Policy, Tax and Payments, Amazon; Stefano Mauro, Policy Director, e-Logistics and Taxation, Ecommerce Europe; Sabine Van Depoele, Head of Public and Regulatory Affairs, KU Leuven and Pablo Muñiz, Partner, Head of Customs Practice, Van Bael & Bellis.