The first Mercosur leaders summit hosted by Argentine President Javier Milei kicked off in Buenos Aires on Wednesday. Discussions revolving around free trade agreements with the European Union and the European Free Trade Association (EFTA) are set to take center stage during the two-day meeting, which will end Thursday afternoon.

At the end of the summit, Milei will transfer the pro tempore presidency to Brazilian President and ideological foe Lula da Silva. He also shares similar differences with Uruguayan President Yamandú Orsi but is more aligned with Paraguayan incumbent Santiago Peña.

Although Bolivian President Luis Arce was not initially scheduled to attend, a source from the Argentine foreign ministry indicated he will be present. He will arrive in Buenos Aires on Wednesday night and participate in the presidents summit on Thursday.

Regional leaders will likely discuss the Mercosur-European Union trade deal, although no significant developments are expected. The arrangement is currently being revised by the 27 European bloc members. They will also debate a free trade agreement with the European Free Trade Association (EFTA), made up of Iceland, Liechtenstein, Norway, and Switzerland. 

The deal is expected to be formally announced on Wednesday morning. The Herald has learned that Swiss Vice President Guy Parmelin is attending the foreign ministers meeting, set to take place on Wednesday at 10 a.m.

The San Martín Palace, where the Argentine Foreign Ministry operates, is housing the 66th Ordinary Meeting of the Common Trade Council throughout Wednesday and the Mercosur and Associated States Summit on Thursday morning.

Activities began amid strong security at 8:30 a.m. on Wednesday with a meeting of the bloc’s economy ministers and central bank presidents. The entire block surrounding San Martín Palace is fenced and only residents of the area and those accredited are allowed to enter.

At 10 a.m., foreign ministers from the bloc’s member countries were set to begin the ordinary meeting of the Common Trade Council, led by Argentine Foreign Minister Gerardo Werthein. There will be another council meeting including Mercosur-associated countries: Chile, Colombia, Ecuador, Guyana, Panama, Peru, and Suriname.

The Mercosur is made up of Argentina, Brazil, Paraguay, Uruguay and Bolivia. The latter, which joined the bloc in 2015 and formalized full membership in 2024, is currently in a process of adapting to the bloc’s norms. Venezuela was also part of the Mercosur but was suspended in late 2016 for not complying with several of the bloc’s norms on democracy. Foreign Relations Vice Minister Huáscar Ajata is attending the activities on behalf of Bolivia.

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