EU-Mercosur Trade Deal to Apply Provisionally from May 1

FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo/File Photo
FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo/File Photo
TT

EU-Mercosur Trade Deal to Apply Provisionally from May 1

FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo/File Photo
FILE PHOTO: EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo/File Photo

The EU said Monday a free trade agreement with South American bloc Mercosur will provisionally enter into force on May 1 -- despite a pending court ruling on its legality.

"Today is an important step in demonstrating our credibility as a major trading partner," EU trade chief Maros Sefcovic said, adding "provisional application will allow" Brussels to start delivering on the promise of "new opportunities for trade, growth and jobs" for exporters.

The key ⁠trade elements of ⁠the accord, which has proven contentious in Europe, will apply from that ⁠date between the 27-nation European Union and the countries in Mercosur that have completed their ratification procedures before the end of March.

"Argentina, Brazil and Uruguay have ⁠already ⁠done so. Paraguay has recently ratified the agreement and is expected to send its notification soon," the Commission said in a statement.