After more than twenty-five years of negotiations, on 17 January 2026 the European Union and the Mercosur countries — Brazil, Argentina, Uruguay and Paraguay — signed the Partnership Agreement and the Interim Trade Agreement in Asunción, with provisional application from 1 May 2026. This is the largest free trade agreement ever negotiated by the EU: a market of around 720 million people, accounting for one-fifth of global GDP, which removes tariffs on 91 per cent of EU exports to Mercosur and on 95 per cent of Mercosur exports to the EU.
This roundtable explores what this historic agreement means in practical terms for relations across the Atlantic, with a particular focus on the bridging role that Italy can play thanks to its deep historical, cultural and economic ties with Brazil and Latin America as a whole. The discussion will address the concrete opportunities for Italian and European businesses, the challenges associated with the full ratification of the agreement by EU Member States, and how this strengthened partnership can consolidate cooperation between the EU and Latin America on trade, investment and shared global challenges, such as sustainability and workers’ rights.
The session will offer the audience an opportunity to reflect on how Mercosur and Europe can transform a historic agreement into a lasting strategic relationship, capable of truly bridging the Atlantic divide.
