The European Commission confirmed on Monday that the terms of the Mercosur trade deal will be provisionally applied from Friday 1 May.

The Commission said that it had taken the final procedural step following the ratification of the deal by all Mercosur countries. Argentina, Brazil and Uruguay have already officially notified the EU of their ratification, with Paraguay expected to complete its notification in the coming days.

The provisional implementation was inevitable after Commission President Ursula von der Leyen said the Commission was “empowered” to do it once the ratification process in South America was complete.

However, expectations had been for that provisional implementation to come in June, rather than at the start of May.

Trade Commissioner Maroš Šefcovic said: "Today is an important step in demonstrating our credibility as a major trading partner. The priority now is turning this EU-Mercosur agreement into concrete outcomes, giving EU exporters the platform they need to seize new opportunities for trade, growth and jobs. Provisional application will allow us to begin delivering on that promise.”

The deal can only be implemented on a provisional basis until there is a full vote on it in the European Parliament. That process has been delayed after the parliament voted earlier this year to refer the deal to the European Court of Justice for an opinion, a process which may take up to two years.

The part of the trade deal that is of specific interest to the majority of Irish farmers is the additional 99,000 tonnes of beef which will gain access to EU markets at a reduced 7.5% tariff rate. EU imports of beef from the region had already grown substantially in recent years (see Figure 1). There is also a 180,000 tonne poultry quota in the deal.

While farm organisations in Ireland had previously expressed their opposition to the provisional implementation of the deal, Chambers Ireland chief executive Ian Talbot said: “For Ireland, as a small and highly open economy, diversified export markets are essential.

"Mercosur represents a market of over 285 million consumers and offers significant opportunities for Irish companies. Events in the Middle East over the last few weeks are just the latest demonstration of the risks inherent as a result of continued geopolitical tensions and of the importance of trade diversification.”

Von der Leyen is in Australia this week putting the final touches on the EU-Australia trade deal which could be signed as soon as Tuesday. That deal is expected to grant Australia a beef quota of at least 30,000 tonnes.