Lisbon, Jan. 9, 2026 (Lusa) - The Portuguese Minister of Agriculture on Friday welcomed the agreement between the European Union (EU) and Mercosur, which is due to be signed this afternoon, and highlighted its significant impact on Portugal, which will now be able to settle its deficit with this market.
"We [the EU] have an agreement with Mercosur in the process of being approved. I am delighted with this approval by the member states. When I was in the European Parliament, I was very committed to the conclusion of this agreement, which I consider to be very positive for the European Union, Mercosur and Portugal," said the Minister of Agriculture and the Sea, José Manuel Fernandes, in a statement to journalists in Lisbon.
The trade agreement between the EU and Mercosur is expected to be formally approved at 5 p.m. (4 p.m. Lisbon time) at the conclusion of the written procedure, a European source told Lusa, and could be signed on the 12th in Paraguay.
The minister stressed that, given the geopolitical situation, this agreement is essential, highlighting "great opportunities" for products such as wine, olive oil and cheese.
José Manuel Fernandes pointed out that there is a €500 million deficit in the trade balance with Mercosur and that this agreement will make it possible to settle this amount.
"We will have a greater influence not only in Latin America but also in Africa," he said.
Asked about the possibility of Portugal achieving a surplus, the former MEP considered it possible, given that the country has "excellent companies" that have been doing their job, but he pointed out that this agreement is also a challenge and that the country needs to be even more proactive.
As for the demonstrations that have been taking place, particularly in Brussels, regarding this agreement, José Manuel Fernandes played down their significance and said that many of the protests were mainly in response to the proposal for the next Common Agricultural Policy (CAP).
On this point, the minister said that Portugal had also spoken out against the Brussels proposal and had been working to improve it.
"In nominal terms, Portugal already has practically the same as it had in the previous financial framework," he concluded.
In a first vote by the ambassadors of the member states to the EU (Coreper), the proposed agreement with Mercosur was passed with France, Poland, Austria, Ireland and Hungary voting against and Belgium abstaining, and no blocking minority representing 65% of the EU population was formed.
If no country joins the “against” side in the meantime, the written procedure will be closed with the approval of the agreement, which took 25 years to negotiate.
Mercosur is composed of Argentina, Brazil, Paraguay (which currently holds the presidency) and Uruguay.
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