Portuguese State Secretary for the Economy, João Rui Ferreira, is leading a trade mission to Argentina from April 12 to 14, accompanied by a delegation of around ten Portuguese companies from various sectors, with the aim of boosting exports and attracting investment as the provisional application of the EU-Mercosur interim trade agreement approaches in May 2026.
During the visit, Ferreira will meet with his Argentine counterpart, Fernando Brum, Secretary of State for International Economic Relations, as well as with Pablo Bereciartua, Minister of Mobility and Infrastructure of the City of Buenos Aires, and Rodolfo Vargas Arizu, Minister of Production of the Province of Mendoza. He will also participate in the Economic Forum "Business Opportunities between Portugal and Argentina" and visit the Argentine Industrial Union (UIA), an entity that brings together associated companies and sectoral and regional chambers.
Building on Momentum from Ratifications and EU Institutional Support
The mission follows the recent ratification of the EU-Mercosur agreement by Argentina and Uruguay on February 27, 2026, with Brazil and Paraguay expected to follow. European Commission President Ursula von der Leyen had advocated for provisional application, calling it a step to boost market access for the 720 million-strong combined market. The agreement, signed in Asunción on January 17, 2026, after 25 years of negotiations, aims to eliminate tariffs and open procurement markets, with projected EU export growth of up to €50 billion and Mercosur exports up to €9 billion.
Cross-Institutional Context
Earlier, on March 30, a delegation of 11 MEPs from the European Parliament's Mercosur delegation, led by Chair Evelyn Regner (S&D, Austria), visited Argentina to strengthen parliamentary diplomacy and prepare for the provisional application. The Portuguese trade mission aligns with these efforts, reinforcing bilateral economic ties ahead of the agreement's implementation.
Trade-Offs and Stakeholder Impacts
The mission underscores the cleavage between trade liberalization and protection of sensitive sectors. For Portuguese exporters, particularly SMEs, the agreement promises reduced tariffs and simplified customs, potentially saving €4 billion annually across the EU. However, EU farmers have raised concerns about competition from Mercosur agricultural imports, though the agreement includes safeguards and stricter import controls to protect sensitive sectors. Argentine producers stand to gain improved access to the EU market, while EU consumers may benefit from lower prices and greater choice. The mission also highlights the strategic importance of securing access to critical raw materials, such as lithium, which is abundant in Argentina and essential for the EU's green transition.
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