Archive · 16 Jan 2026
EU-Mercosur and India-EU Trade Deals Advance
The EU and Mercosur countries are signing a big trade deal on January 20, 2024, to make trading goods cheaper and easier.
This deal is worth 111 billion euros and involves countries like Argentina, Brazil, Paraguay, and Uruguay.
Some EU countries and groups are not happy because they worry about cheap imports and environmental issues.
The deal still needs to be approved by the European Parliament and all EU countries, which might take some time.
Meanwhile, India and the EU are also negotiating a big trade deal, which could be announced on January 27, 2024.
This deal is expected to be very important for both economies.
India wants to make sure its farmers and industries are protected, especially regarding carbon taxes and dairy products.
Both deals aim to boost trade and economic growth.
Top EU officials will travel to Paraguay to sign a free trade agreement with Mercosur on January 20, 2024.
The EU-Mercosur deal aims to slash tariffs and expand goods trade worth 111 billion euros in 2024.
The India-EU Free Trade Agreement negotiations are ongoing, with a potential announcement at the India-EU Summit on January 27, 2024.
The EU-Mercosur agreement is contested within the EU, with some member states and groups opposing it due to concerns about cheap imports and deforestation.
The European Parliament is expected to vote on the EU-Mercosur agreement in April or May 2024, with a tight outcome likely.
- Who
- EU officials, Mercosur countries (Argentina, Brazil, Paraguay, Uruguay), India, EU leaders (Ursula von der Leyen, Antonio Costa)
- What
- Signing of EU-Mercosur free trade agreement, negotiations on India-EU Free Trade Agreement
- When
- January 20, 2024 (EU-Mercosur signing), January 27, 2024 (potential India-EU FTA announcement), April or May 2024 (expected EU Parliament vote on EU-Mercosur)
- Where
- Paraguay (EU-Mercosur signing), New Delhi (India-EU Summit), European Parliament (EU-Mercosur vote)
- Why
- To expand goods trade, offset business lost to U.S. tariffs, reduce reliance on China, and foster economic growth between the involved regions
- Signing Date (EU-Mercosur)
- January 20, 2024
- Expected Trade Volume (EU-Mercosur)
- 111 billion euros (2024)
- EU Member States Against (EU-Mercosur)
- Austria, France, Hungary, Ireland, Poland
- EU Member States Abstained (EU-Mercosur)
- Belgium
- EU Parliament Vote (EU-Mercosur)
- April or May 2024 (expected)
- Potential Court Delay (EU-Mercosur)
- Up to 2 years
- Mercosur Members
- Argentina, Brazil, Paraguay, Uruguay
- Bolivia's Status (EU-Mercosur)
- Not party to the deal, poised to join Mercosur
- India-EU FTA Status
- Negotiations ongoing, potential announcement at India-EU Summit on January 27, 2024
- India-EU Trade Volume (2024-25)
- $136.53 billion
- India-EU Trade Surplus
- $75.85 billion (exports) - $60.68 billion (imports)
Sources
Factbox-What happens next in EU-Mercosur trade deal saga?
India-EU free trade agreement will be ‘mother’ of all deals: Goyal
India-EU FTA to be ‘mother of all trade pacts’: Goyal
Exports of electronic goods drives merchandise goods exports in Apr-Dec 2025; share of exports to China rise
