Interregional Framework Cooperation Agreement between the European Community and Mercosur

SUMMARY OF:

Council Decision 1999/279/EC — concluding on behalf of the European Community, the interregional framework cooperation agreement between the European Community and its Member States, and the Southern Common Market and its Party States

Interregional Framework Cooperation Agreement between the European Community and its Member States, and the Southern Common Market and its Party States

WHAT IS THE AIM OF THE DECISION AND AGREEMENT?

The decision concludes the agreement on behalf of the European Community (now the EU).
The agreement, based on democratic principles and fundamental rights, aims to strengthen existing relations between the parties and to lay the foundations for an Interregional Association between the EU and the Southern Common Market (Mercosur).

KEY POINTS

In addition to a series of bilateral agreements, the EU has concluded this Interregional Framework Agreement with Mercosur.
Mercosur includes Argentina, Brazil, Paraguay and Uruguay.
The agreement covers trade and economic matters, cooperation and other fields of mutual interest.
With respect to trade, regular dialogue on trade and economic matters is designed to prepare for a gradual and reciprocal liberalisation of trade, and the main areas of cooperation include:
- market access, liberalisation of trade and trade disciplines;
- the compatibility of trade with WTO rules;
- the identification of sensitive and priority products;
- cooperation and exchanges of information on services.
Although no sector is excluded from economic cooperation, the agreement specifically covers:
- energy;
- transport;
- telecommunications and information technology;
- environmental protection;
- science and technology;
- business cooperation; and
- investment promotion.
Other areas of cooperation include:
- training and education;
- communication, information and culture, where the aim is to promote mutual understanding and strengthen cultural ties;
- combating drug trafficking.

Financing

The parties agree to provide the required resources and encourage the European Investment Bank to give greater help to Mercosur to attain the agreement’s objectives.

Institutional support

A Cooperation Council which oversees the agreement’s implementation meets regularly at ministerial level.

Interregional Association

The agreement sets up regular political dialogue to advance progress towards an Interregional Association.
In June 2019, political agreement was reached on Association Agreement between the parties.

DATE OF ENTRY INTO FORCE

The agreement entered into force on 1 July 1999 and is valid indefinitely.

BACKGROUND

For more information see:

EU and Mercosur (European External Action Service).

MAIN DOCUMENTS

Council Decision 1999/279/EC of 22 March 1999 concerning the conclusion, on behalf of the European Community, of the interregional framework cooperation agreement between the European Community and its Member States, of the one part, and the Southern Common Market and its Party States, of the other part (OJ L 112, 29.4.1999, pp. 65-84)

Interregional Framework Cooperation Agreement between the European Community and its Member States, of the one part, and the Southern Common Market and its Party States, of the other part — Joint Declaration on political dialogue between the European Union and Mercosur (OJ L 69, 19.3.1996, pp. 4-22)

Corrigendum to the Interregional Framework Cooperation Agreement between the European Community and its Member States, of the one part, and the Southern Common Market and its Party States, of the other part (OJ L 61, 10.3.1999, p. 55)