The European People's Party group in the European Parliament has warned that referring the EU–Mercosur trade agreement to the EU Court of Justice would bring the Parliament’s ratification work to a standstill for months.
The centre-right political group emphasised in a statement on Friday that asking the court to review the deal would trigger a lengthy legal process and force Parliament to halt its work on the agreement.
The EPP Group said delaying the agreement would undermine Europe’s credibility as a global player, and added that delays risk China taking the lead in ties with Latin America.
What the agreement covers
The EU–Mercosur agreement is a proposed trade deal between the EU and the Mercosur bloc — Argentina, Brazil, Paraguay and Uruguay.
The deal would create a free trade zone covering 700 million consumers, according to MEP Jörgen Warborn, the EPP Group’s spokesman on International Trade.
Warborn said the agreement would reduce tariffs and simplify customs procedures, increasing trade in goods and services, boosting investment, and strengthening supply-chain diversification.
The EPP Group will hold a press conference on the Mercosur agreement on Tuesday at 9am in the Daphne Caruana Galizia press conference room in the European Parliament in Strasbourg.
