In accordance with the EU Council decision of 9 January, the EU has notified the Mercosur countries of the instrument of provisional application of the EU-Mercosur Interim Trade Agreement (iTA), as announced by the European Commission on Monday 23 March.
This means that the agreement will apply provisionally from 1 May between the EU and all Mercosur countries that have completed their ratification procedure and notified the EU of their decision before the end of March. Argentina, Brazil and Uruguay have already done so. Paraguay has ratified the agreement, but has yet to notify its decision.
As the Commission points out, provisional application guarantees the elimination of customs duties on certain products from day one, “thereby establishing predictable rules for trade and investment”.
“The priority now is to make this EU-Mercosur agreement a reality and give European exporters the platform they need to seize new opportunities for trade, growth and jobs” said European Trade Commissioner Maroš Šefčovič.
This provisional application is taking place before the agreement is validated by the European Parliament, which decided on 21 January to refer the matter to the Court of Justice of the EU for an opinion on its compatibility with the EU Treaties (see EUROPE 13791/2). (Original version in French by Pauline Denys)