Buenos Aires, March 23 (NA) -- The European Commission confirmed this Monday that the trade agreement between the European Union and Mercosur will enter into force provisionally on May 1. The body decided to advance in this way, while European justice defines the investigation into the validity of the agreement that countries opposing the pact have filed. The measure was announced in a press release, while in Argentina it was confirmed by Foreign Minister Pablo Quirno, as verified by the Argentine News Agency. The official highlighted that 'Argentina was the first country in the bloc to complete the internal procedures to make it possible.' He added that it is 'an important step to consolidate our international insertion, expand trade and investment opportunities, and generate more predictable conditions for exporting.' This decision will allow for the reduction of tariffs and export quotas agreed upon to begin operating without waiting for the full ratification of all national parliaments of the European Union. The provisional application mechanism will focus on the commercial pillar, which is the exclusive competence of the community institutions of Brussels. The provisional application will mainly affect the chapters on the elimination of industrial and agricultural tariffs. The countries of Mercosur (Argentina, Brazil, Uruguay, and Paraguay) must complete their internal notification processes before the deadline to access the benefits within the planned timeframe. This modality allows companies to operate under the new rules while the ratification process of the political dialogue and cooperation components continues in the EU member states. The agreement creates a market of more than 780 million consumers and seeks to reduce operational costs for exports on both sides of the Atlantic, eliminating tariffs that in some sectors exceed 30%.
