German Foreign Minister Participates in Mercosur Summit in Paraguay

At the outset of a multi-day tour of South America, German Foreign Minister Johann Wadephul is participating today, Tuesday, in a summit of Mercosur member states hosted by Paraguay.

On the sidelines of the summit, Wadephul plans to meet with Paraguayan President Santiago Peña and his counterpart, Paraguayan Foreign Minister Rubén Ramírez Liscano. Wadephul is also scheduled to hold talks with Chilean President José Antonio Kast and Chilean Foreign Minister Isabel Placencia.

The European Union and Mercosur countries have formed a vast new free trade zone since early last May. The agreement aims to boost the exchange of goods and services through the gradual elimination of trade barriers and tariffs. In Germany, the deal is viewed as offering significant long-term opportunities for the automotive, machinery, and pharmaceutical industries. The Mercosur agreement was signed earlier this year after more than 25 years of negotiations, and it is seen as a response to the protectionist tariff policies pursued by U.S. President Donald Trump.

The agreement can only be applied provisionally, after a narrow majority of European Parliament members in January referred the text to the Court of Justice of the European Union for review before the final vote. Bolivia officially joined Mercosur in 2024, but it is still in the process of implementing the bloc’s standards and is not a party to the agreement concluded with the European Union.