Within the framework of the Mercosur Leaders Summit and thanks to the work of the Government of Javier Milei, the South American bloc officially announced the conclusion of negotiations for the signing of a free trade agreement with the countries that make up the European Free Trade Association (EFTA), comprised of Iceland, Liechtenstein, Norway, and Switzerland.
The announcement, made at the Palacio San Martín, headquarters of the Argentine Foreign Ministry, represents a significant step in Mercosur's international insertion strategy, which seeks to expand its trade ties and modernize its foreign policy.
The agreement, which began negotiations in 2015 and reached a preliminary understanding in 2019, creates a free trade zone that will cover nearly 300 million people with a combined Gross Domestic Product exceeding 4.3 trillion dollars. According to reports, more than 97% of exports from Mercosur member countries will benefit from better access to EFTA markets, which will boost bilateral trade and open new opportunities.
This understanding, considered one of the main diplomatic achievements of the current administration, will be presented tomorrow during the traditional photo of heads of state, which will mark the end of Argentina's pro tempore presidency of the bloc.
Foreign Minister Gerardo Werthein led the press conference alongside representatives of the signatory countries, and highlighted the commitment to move toward the definitive signing of the agreement in the coming months of 2025, once the necessary parliamentary ratifications are completed.
Meanwhile, alongside the conclusion of the agreement with EFTA, the Argentine Government is promoting a commercial flexibility policy that includes the incorporation of 50 products into Mercosur's tariff exception regime. This initiative seeks to support the opening of new markets and consolidate the competitiveness of national production, while serving as a key tool to strengthen negotiations with strategic partners such as United States.
