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EU Approves Provisional Rollout Of Mercosur Trade Deal From May 1

by THEFUTURE.TEAM

The European Union announced the provisional rollout of the interim EU-Mercosur trade agreement, marking the final procedural step following the Council’s decision on January 9. Notification was sent to Paraguay, which serves as the legal custodian of Mercosur treaties.

Temporary Measures Take Effect

Under the transitional arrangement, provisional application will begin on May 1 for the EU and Mercosur countries that complete ratification and notify the bloc by the end of March. Argentina, Brazil and Uruguay have already fulfilled these requirements. Paraguay has also ratified the agreement and is expected to submit its notification shortly.

Enhanced Trade And Investment Opportunities

From the start of implementation, selected goods will benefit from tariff elimination, creating clearer and more predictable conditions for trade and investment. Businesses, consumers and farmers in the EU are expected to see early benefits, while safeguards remain in place for sensitive sectors. Additional details for exporters are available through the Access2Markets platform.

Strengthening Global Cooperation

According to the European Commission, the agreement will also support cooperation on issues such as labour standards and climate policy. Stronger coordination is expected to improve supply chain stability and ensure more reliable access to key raw materials.

Temporary Measures Take Effect

Under the transitional arrangement, the agreement will be applied provisionally from May 1 for the EU and all Mercosur countries that complete their ratification processes and notify the EU by the end of March. Argentina, Brazil, and Uruguay have already met these conditions, while Paraguay has recently ratified the agreement and is expected to dispatch its notification shortly.

Enhanced Trade And Investment Opportunities

From the start of implementation, selected goods will benefit from tariff elimination, creating clearer and more predictable conditions for trade and investment. Businesses, consumers and farmers in the EU are expected to see early benefits, while safeguards remain in place for sensitive sectors. Additional details for exporters are available through the Access2Markets platform.

Strengthening Global Cooperation

According to the European Commission, the agreement will also support cooperation on issues such as labour standards and climate policy. Stronger coordination is expected to improve supply chain stability and ensure more reliable access to key raw materials.

Cyprus Proposes New Credit Scoring System And Data Sharing Reform

by THEFUTURE.TEAM

Cyprus Ministry of Finance has submitted a package of seven amendment bills aimed at restructuring how credit data is shared and introducing a unified credit rating system for individuals and businesses. Proposals are currently under review by the Parliamentary Committee on Finance.

Unified Credit Data Exchange Framework

Reform is part of a broader effort to modernise financial infrastructure and improve data exchange between credit institutions. Changes cover key areas including banking operations, consumer credit, mortgage agreements, credit management, finance leases and the sale of credit facilities. This initiative is also linked to the Recovery and Resilience Plan, aligning financial sector reforms with wider economic policy.

Advanced Credit Rating Mechanism

A central element of the proposal is the creation of a single credit score for borrowers. The system will use financial data from the past 24 to 36 months to assess the likelihood of default over the following 12 months. This approach is expected to improve lending decisions and support a gradual reduction in non-performing loans.

Empowering Regulatory Oversight And Data Security

Oversight will be assigned to the Central Bank, which will set operational rules, monitor compliance and impose penalties where needed. The framework also includes provisions on data protection and banking confidentiality, developed in coordination with the Office of the Commissioner for Personal Data Protection.

Structured Data Submission And Access Controls

Proposed legislation defines which entities must submit data and which can access it, introducing a tiered system based on operational needs. Participants will include banks, credit management companies and finance lease providers, all operating under defined conditions.

Reforms aim to simplify existing regulations and reduce overlaps between current laws, as Cyprus moves to modernise its credit system. Lawmakers are expected to review the package ahead of a vote before Parliament dissolves ahead of elections.

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