The trade agreement between Mercosur and the European Union (EU) was signed in this capital city, with the presence of South American leaders and representatives of the 27-nation bloc from the old continent.

Asunción.- The signing took place at the José Asunción Flores Grand Theater of the Central Bank of Paraguay, where the Treaty of Asunción, the founding document of Mercosur, was signed on March 26, 1991. The foreign ministers of Brazil, Uruguay, Argentina, and Paraguay signed on behalf of the South American bloc.

The EU Commissioner for Trade and Economic Security, Maros Sefcovic, signed on behalf of the European Union.

The President of the European Commission, Ursula von der Leyen, and the President of the European Council, Antonio Costa, were witnesses of honor.

The strategic partnership with the EU entails the integration of a market of 800 million people, with a combined gross domestic product equivalent to a quarter of global GDP.

According to Mercosur estimates, this trade flow has the potential of $100 billion. (PL)