Consulate General of the Oriental Republic of Uruguay in Hong Kong

On 1 May 2026, the MERCOSUR - European Union Interim Trade Agreement started its provisional application. After more than 25 years of negotiations, this move creates one of the world's largest free trade areas, covering a market of over 700 million people and 30% of global GDP. With its provisional application, MERCOSUR will obtain zero tariffs on approximately 75% of its exports to the European Union, a proportion that will gradually increase to 92% of the tariff lines covered by the Agreement within ten years.

For Uruguay, the trade opportunities and benefits are tangible starting with the provisional application. These include the elimination of tariffs on beef imports under the Hilton quota to the European bloc, as well as the elimination of tariffs on a wide range of products, including: fish products, beef and lamb offal, fresh apples and cherries, legumes, dried fruits and raisins, mineral water, beer and spirits, soybean meal, worsted wool tops, fertilisers, and fungicides. In addition to the above, there are partial benefits for products such as beef, rice and honey to which the EU granted tariff quotas to MERCOSUR.

As MERCOSUR continues to negotiate new agreements with countries and blocs, trading from Uruguay with the rest of the world becomes more convenient by way of lower tariffs and barriers. The MERCOSUR-EU agreement creates a stable, high-standard environment that strengthens Uruguay’s position as a reliable partner for Hong Kong and Macao businesses looking to expand into Latin America.