The trade agreement reached last week is part of a comprehensive new Association Agreement under negotiation between the EU and Mercosur countries (Argentina, Brazil, Paraguay and Uruguay). The Association Agreement is composed of a political and cooperation pillar – on which negotiators already reached a general agreement in June 2018 in Montevideo – and the trade pillar.
Both sides will now perform a legal revision of the agreed text to come up with the final version of the Association Agreement, including its trade aspects. The Commission will then submit the Association Agreement to EU Member States and the European Parliament for approval.
Once the final text of the Agreement has been received and analysed by relevant Government Departments, I will be able to revert to the Dáil with further information on this matter and on the exact process for Ireland to complete the internal procedures necessary for the entry into force of the Agreement.