Chambers Ireland and ICC Ireland welcome the passing of the Mercosur trade agreement, describing it as a great opportunity for the Irish economy and a welcome boost for free, open trade which has been so instrumental in Ireland’s economic success. Today’s decision represents a significant milestone in the process, with the agreement now progressing to the European Parliament for consideration.
Speaking today, Chief Executive Ian Talbot highlighted the importance of the agreement for businesses in Ireland and across the EU:
“The approval of the Mercosur agreement marks a decisive moment for Irish and EU businesses. It will help stabilise the trade environment and build much-needed resilience into our supply chains. In a time of ongoing geopolitical instability and the lingering effects of tariffs, this agreement will help reduce vulnerabilities and create new opportunities for Irish exporters. Protection of investments and Intellectual Property are also important elements.”
He emphasised the strategic value of the deal:
“Forging strong partnerships with key markets is the cornerstone of the EU’s free trade agenda. The success of the EU-Canada (CETA) agreement has already shown how new Free Trade Agreements can open up new supply chains for critical raw materials and reduce our reliance on traditional markets. The Mercosur agreement, given the size and scale of the market involved, will deliver even greater benefits – including for Ireland’s agri-food sector, which now has improved access to up to 280 million new consumers.
Implementation of this new agreement must be properly executed, and the EU and Member States must ensure that the safeguards negotiated to protect important agricultural sectors are monitored and rigorously applied.
The approval of the EU–Mercosur agreement sends a powerful message to global markets that the EU remains committed to open trade and is capable of delivering ambitious agreements. This progress reinforces confidence among other major economies currently engaged with the EU – such as Indonesia, India, Malaysia, the Philippines, and the UAE – that Europe is serious about advancing free and fair trade. Ireland must play its part in delivering on this message for future trade agreements,” he concluded.