The Government of Bulgaria approved the Partnership Agreement between the European Union (EU) and four Mercosur countries (Argentina, Brazil, Paraguay and Uruguay).
Relations between the EU and the Mercosur countries have been regulated by the Interregional Framework Agreement on Cooperation from 1995, the government’s information service announced.
After more than 25 years of negotiations, on December 6, 2024, the EU and Mercosur reached a political consensus on the conclusion of the negotiation process on the ambitious Partnership Agreement.
The deepening of the EU-Mercosur partnership is expected to bring long-term benefits to both the EU as a whole and Bulgaria.
These include improved market access for goods and services, diversification of trade links and supply chains, investment promotion and improved security and capacity to address global challenges.
The creation of a free trade zone covering a market of over 700 million people will also enable Bulgarian companies to use the best possible conditions for doing business in the Mercosur markets, according to a press release.
Earlier this year, the EU Council approved the signing of the Partnership Agreement between the EU and Mercosur, which was formally signed on behalf of the EU on January 17, 2025.
After that, the Bulgarian government authorized its permanent representative to the EU to sign the Partnership Agreement with Mercosur, reports BTA.
(Vijesti.ba/Fena)
