Between 600 and 800 officials are gathering in Asuncion for the signing of the association agreement between Mercosur and the European Union, after 26 years of negotiations.

On Saturday, in Asuncion, a historic association agreement between Mercosur and the European Union will be signed at an event that will bring together between 600 and 800 authorities and international representatives. The ceremony will take place in the Jose Asuncion Flores theater of the Central Bank of Paraguay, a symbolic place for the Mercosur bloc, which was established by the Treaty of Asuncion in 1991.

The President of Paraguay, Santiago Pena, will open the ceremony, which will also be attended by leaders from Uruguay, Argentina, Bolivia, and Panama, as well as European officials, including Ursula von der Leyen and Antonio Costa. The agreement, resulting from 26 years of negotiations, will gradually reduce or eliminate customs duties for approximately 90% of exports between the two entities.

After the ceremony, there will be a press conference and a courtesy lunch hosted by President Pena. The event will include music and traditional Paraguayan dishes.