Mercosur and European Union sign major trade agreement in Paraguay

The Mercosur trade bloc and the European Union have officially signed a major free trade agreement in Asunción, Paraguay. The deal is seen as a significant step in economic cooperation between the two regions.

Argentine President Javier Milei attended the signing ceremony, while Brazilian President Luiz Inácio Lula da Silva was notably absent, having held a separate meeting with EU officials beforehand. The agreement's ratification now faces a complex process in Paraguay, involving thousands of pages of documentation.