European Union – Mercosur Free Trade Agreement is a free trade agreement on which the EU and Mercosur reached agreement in principle in 2019 . The deal was announced at the 2019 G20 Osaka summit after twenty years of negotiations . Although there is agreement in principle , the final texts have not been finalised , signed or ratified and therefore has not entered into force . If ratified , it would represent the largest trade deal struck by both the EU and Mercosur in terms of citizens involved . The trade deal is part of a wider Association Agreement between the two blocs , currently under negotiation
2019 G20 Osaka summit
2019 G20 Osaka summit
European Union–Mercosur Free Trade Agreement