Sofia approves EU-Mercosur partnership agreement

The Bulgarian government has approved a partnership agreement between the European Union and Mercosur, the South American trade bloc comprising Argentina, Brazil, Paraguay and Uruguay.

Relations between the EU and Mercosur are currently based on a cooperation agreement signed in 1995. After more than 25 years of negotiations, the two sides reached political agreement on 6 December 2024 to conclude talks on a wide-ranging partnership deal, the government press office said.

The agreement plans to establish a free trade area covering a market of over 700 million people. Bulgarian businesses are expected to benefit from improved access and more favourable conditions for operating in Mercosur countries, the government said.

Editor: Miglena Ivanova