Senate ratifys Mercosur-EU deal

The Argentine Senate gave final approval on Thursday to the Mercosur-European Union trade agreement. The final tally showed widespread support, with 69 votes in favor, 3 against, plus 3 abstentions. Argentina became the second country to ratify the deal, since Uruguay approved the same initiative only a few hours earlier.  Congress is currently in an extraordinary session period before the regular sessions begin on March 1. Implementation of the deal, which was signed in January, is currently delayed as the European Parliament recently sent the agreement to the EUs top court to verify whether it complies with existing EU treaties. Senate sessions continue with the debate previous to vote on glaciers reform, a bill aimed at allowing mining in areas surrounding glaciers. Earlier on Thursday, a group of Greenpeace activists was arrested for carrying out a protest on the steps of Congress. At around 7:30 a.m., they jumped the fence in front of Congress and proceeded to sit on plastic or cardboard toilet seats while wearing suits and a presidential sash. Congress security and police intervened, arresting at least 12 activists. A cameraman was also arrested and injured by police while he was registering the crackdown. Press present at the scene were affected by tear gas as well. The worlds largest free-trade area Following 26 years of negotiations, representatives of the Mercosur countries and the European commission signed the EU-Mercosur trade deal at a ceremony in Asuncin, Paraguay, on January 17..  The agreement creates the worlds largest free-trade area, comprising more than 715 million people. Regional leaders on both sides of the Atlantic have endorsed it as a powerful gesture of multilateral cooperation, peace, and free trade at a time when world powers such as the U.S. are turning towards protectionism and a worldview guided by spheres of influence.  For all elements of the deal to enter into force, they must be approved by the parliaments of each country involved. Although the trade provisions are expected to come into effect sooner because the approvals process is simpler. While popularly described as a trade deal, the free trade provisions are part of a broader association agreement. It will involve not only the gradual reduction of tariffs on more than 90% of bilateral trade between the blocs, but also a series of commitments on political cooperation, investment, and the environment.  The delegation of the European Union to Argentina is planning to hold an EU-Argentina Trade and Investment Forum on June 1-2 to investigate investment opportunities and explore value chain opportunities.  Farmers and politicians in European countries such as France and Poland said that the deal risks flooding their market with cheap agricultural goods. Opponents in South America, meanwhile, have argued that the deal will foster the export of raw materials to Europe and the import of complex, value-added manufactured goods in return, fostering a colonial dynamic.