"Paraguay’s Foreign Minister, Ruben Ramirez Lezcano, said on Friday that the Strategic Partnership Agreement between Mercosur and the European Union is set to be signed in Asuncion next week, following approval by the European Commission. “We have agreed that this signing will take place next Saturday, January 17, in Asuncion, Paraguay. It is one of the largest agreements in the history of our planet, as it links more than 700 million inhabitants,” the minister said. The Mercosur–European Union agreement is a cooperation and free-trade accord negotiated over more than 25 years between the South American bloc and the EU, aimed at deepening political dialogue and expanding economic and trade ties between the two regions. Lezcano underlined the political and historical significance of the deal, pointing to the cumulative work of negotiators, diplomats and technical teams over more than two decades. “This agreement also sets the guidelines for an understanding between two regions that, after more than 25 years of negotiations, we can achieve through a collective effort,” he said. Economically, the agreement is expected to widen market access, lower tariffs, and strengthen value chains between Europe and South America. Mercosur countries anticipate increased exports of agro-industrial and energy products, while the European Union is expected to expand its footprint in industrial and service sectors. The accord has faced opposition from farming groups in several EU member states, including France, Poland and Ireland, who argue that increased imports of South American agricultural products could undercut domestic producers and bring down prices. Lezcano said the signing would mark the close of the negotiation phase and the start of a new stage of integration between South America and Europe. Despite the planned signing, the agreement will not take immediate effect. It must still be approved by the European Parliament and ratified by Mercosur member states, a process expected to take several months."