BRUSSELS — The EU and Mercosur will sign their long-awaited trade agreement on Saturday, with European Commission President Ursula von der Leyen traveling to Paraguay on Jan. 17 for the signing ceremony.
Commission spokesperson Thomas Regnier confirmed von der Leyen’s travel plans to POLITICO. She will be joined by European Council President António Costa, his cabinet confirmed.
The trip comes after a majority of EU member countries on Friday voted in favor of signing the deal.
The EU-Mercosur deal is set to create the world’s largest free-trade area, covering some 700 million people. From Brussels’ perspective, the agreement is a major geopolitical win in light of China’s rising share in trade and influence in Latin America and U.S. President Donald Trump’s tariff policies.
Aside from Paraguay, the Mercosur bloc consists of Argentina, Brazil and Uruguay.