Buenos Aires – Argentina and its Mercosur partners are poised to gain preferential access to the European Union market following a key vote in the Argentine Chamber of Deputies on Thursday, February 12, 2026. The move signals a potential boost for trade and investment in the region, though opposition remains from some sectors.
The agreement, which has been years in the making, received a “media sanción,” or initial approval, in the Chamber of Deputies, according to reports. President Javier Milei celebrated the development, posting on social media after Foreign Minister Pablo Quirno highlighted the benefits of the deal. “Fin,” Milei wrote, echoing the positive sentiment.
According to Quirno, Argentina and other Mercosur countries will now have preferential access to the EU, the world’s third-largest economy, a market of 450 million people representing approximately 15% of global GDP. The agreement aims to eliminate tariffs on 92% of Argentine exports to the EU, with a further 7.5% receiving preferential access, according to Economy Minister Luis Caputo. Caputo described the agreement as “historic,” stating it will “allow the country to increase its exports and accelerate the pace of economic growth.”
The deal is expected to be formally signed next week in Asunción, Paraguay, with European Commission President Ursula von der Leyen traveling to the region for the occasion. But, the agreement still requires approval from the European Parliament, where it faces opposition from a group of approximately 150 Eurodeputies.
The approval in Argentina comes after Milei attended a Mercosur summit in Brazil in December 2025, where he advocated for greater trade liberalization within the bloc. At that time, the agreement with the EU was postponed until January. During the summit, Milei and other leaders also called for the restoration of democracy in Venezuela.
While the government hails the agreement as a significant step forward, opposition groups have voiced concerns. Left-leaning parties have criticized the deal, characterizing it as a boon for large-scale producers at the expense of local industries. The agreement underscores the Milei administration’s commitment to forging closer ties with international markets and pursuing a more open economic policy.
