Free trade agreements prepared with Mercosur countries, Mexico and Indonesia

EU Trade Agreements with Mercosur and Mexico: The European Commission has proposed two significant trade agreements—the EU-Mercosur Partnership Agreement (EMPA) and the Modernized EU-Mexico Comprehensive Agreement (MGA)—aimed at enhancing trade relations. The EMPA seeks to create the world’s largest free trade area, potentially increasing EU exports to Mercosur countries by €49 billion, while the MGA aims to eliminate tariffs on numerous goods and strengthen protections for geographical indications.
Key Provisions and Safeguards: The EMPA includes bilateral safeguard clauses to limit preferential imports based on EU production levels, while earmarking €300 billion for EU farmer support post-2027. Additionally, protective measures are proposed for sensitive agricultural products, ensuring European standards for health and safety apply to all products in the EU market.
EU-Indonesia Comprehensive Economic Partnership Agreement: The EU has also concluded negotiations on a Comprehensive Economic Partnership Agreement (CEPA) with Indonesia, which aims to reduce tariffs on a wide range of goods, enhance supply chain security, and promote sustainability. The CEPA is expected to yield significant tariff savings for EU exporters, further diversifying the EU’s trade relations in Southeast Asia.

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