The trade agreement between the European Union and the Mercosur economic bloc began to apply provisionally from Friday. The treaty will fully enter into force after the European Parliament gives its consent, and for this, the opinion requested from the Court of Justice of the EU is awaited, reports IPN.

The provisional application is considered by European officials as an essential stage for assessing the real impact of the agreement. According to the European Commission, the measure allows the elimination of tariffs for certain products from the very first day, providing companies and farmers with faster access to trade benefits and establishing more predictable rules for investments. In addition to the economic aspect, the agreement also aims to strengthen supply chains for critical raw materials, cooperation in the field of workers’ rights, and combating climate change.

For the agreement to be fully applicable, the final vote in the European Parliament plenary is needed, which is awaiting the decision of the EU Court of Justice regarding the compatibility of the treaty with the fundamental laws of the community bloc. The request for the Court’s opinion was submitted by MEPs shortly after the signing of the agreement.

The EU and Mercosur have signed on January 17, the trade agreement negotiated for 25 years, officially marking the creation of one of the largest free trade zones in the world, a market of over 700 million inhabitants.