Abstract
“The objectives of this Agreement shall be to strengthen existing relations between the Parties and to prepare the conditions enabling an inter-regional association to be created. To those ends, the Agreement covers trade and economic matters, cooperation regarding integration and other fields of mutual interest.” Here are the objectives put forward in 1995 by the Inter-regional framework cooperation Agreement that still shapes the relations between the European Union and Mercosur. As it is highlighted, the main ambition seemed to promote favorable conditions for a greater integration and trade liberalization with a view to ultimately developing the first inter-regional association and a top-world free trade area. Since its creation in 1991 by the Asuncion Treaty, Mercosur – which includes Argentina, Brazil, Paraguay, Uruguay and since recently, Venezuela - has thus highly benefited from the European Commission's support to bolster up its economic and commercial projects as well as to clarify its institutional framework.
