Uruguay's Parliament ratifies Mercosur-EFTA free trade agreement

Uruguay's Parliament has definitively ratified the free trade agreement between Mercosur and the European Free Trade Association (EFTA), marking a significant step in strengthening economic ties between the blocs.

The Chamber of Representatives gave its final approval on Wednesday, following unanimous ratification in the Senate the previous day. The lower house expedited the process by treating the agreement with urgency, ultimately securing 76 out of 78 votes.

This ratification is crucial as the agreement's entry into force depends on legislative approval from all member countries. Brazil also ratified the treaty on the same day, highlighting the coordinated effort to advance this trade pact.

The Mercosur and EFTA bloc, comprising Norway, Iceland, Liechtenstein, and Switzerland, initially signed the agreement in Rio de Janeiro on September 16, 2025. This pact establishes a combined market of 300 million consumers.

Under the terms of the agreement, EFTA will completely remove tariffs on industrial and fishing products originating from Mercosur. Additionally, the European bloc will offer immediate tariff reductions or exemptions and specific quotas for key Mercosur agricultural products, including coffee, beef, poultry, pork, ethanol, and wine. Mercosur, in turn, will implement a phased tariff reduction process for industrial imports from its new European partners, with a timeframe of up to fifteen years.