Uruguay president urges 'swift' EU-MERCOSUR deal in meeting with German counterpart

Uruguay's new President Yamandu Orsi highlighted "the importance of swiftly and successfully finalizing the MERCOSUR-European Union agreement," during a joint press conference with his German counterpart Frank-Walter Steinmeier in Montevideo.

An agreement between the EU and the Mercosur states - Brazil, Argentina, Uruguay and Paraguay - would create one of the world's largest free trade zones with a population of more than 700 million. Its main aim is to reduce tariffs and thus boost trade.

After more than 20 years of talks, the EU Commission and the South American Mercosur alliance concluded negotiations on a vast free-trade area in December. Orsi and Steinmeier jointly expressed hope that Argentina, with its President Javier Milei, would not withdraw from the agreement as Steinmeier indicated this would have "implications for the entire concept."