On December 6, 2024, the European Commission (EC) and leaders from Argentina, Brazil, Paraguay, and Uruguay announced the successful conclusion of negotiations on the EU-Mercosur Partnership Agreement. This agreement, which covers trade, political dialogue, and sectoral cooperation, could create one of the world’s largest free trade areas. The deal will now undergo legal verification, and its ratification will require approval from both Mercosur and EU parliaments. For more details on the agreement’s development and future prospects, read the full text published by the European Commission on their official website.