Key facts
- Uruguay's Foreign Minister Mario Lubetkin urged the EU to ratify the Mercosur trade agreement.
- Lubetkin warned that Europe risks ceding influence in Latin America to China if the deal stalls.
- The Mercosur countries ratified their part of the agreement in two months.
- The EU's ratification process is on hold pending an opinion from the Court of Justice of the European Union.
- Uruguay plans to organize an EU-Mercosur trade forum in December.
- China is Uruguay's largest trading partner.
Uruguay's Foreign Minister Mario Lubetkin has urged the European Union to finalize the ratification of the EU-Mercosur trade agreement, warning that a delay risks allowing China and other global powers to increase their influence in Latin America. In an exclusive interview with Euronews, Lubetkin, whose country currently holds the rotating presidency of Mercosur, described the agreement as a "quality change" and highlighted that the four Mercosur countries ratified their part of the deal in just two months.
The agreement, which concluded negotiations over two decades ago, entered its provisional implementation phase for Mercosur on May 1st. However, ratification in Europe is stalled, primarily due to the European Parliament, which has requested an opinion from the Court of Justice of the European Union (CJEU) on the agreement's compatibility with EU Treaties. This process could take over a year, leaving the full agreement on hold.
Lubetkin expressed confidence that the European Parliament would eventually approve the deal, but acknowledged the uncertain timeline, suggesting it could be 2027 or 2028. He stated that Uruguay cannot wait and plans to move forward by organizing the first EU-Mercosur trade forum in December and deepening commercial cooperation even before full ratification.
The minister emphasized the agreement's increased strategic significance in the current geopolitical landscape, where global trade is shaped by competition. He argued that Europe needs to work with regions like South America that share complementary strengths, predicting increased investment, economic growth, and job creation in both directions. Lubetkin issued a clear warning that rejecting the agreement would have greater consequences for Europe than for Mercosur, with China being the obvious alternative partner. China has become Uruguay's largest trading partner over the last 14 years, though Uruguay aims to maintain relations with all major powers.