Congress enacts Mercosur-European Union agreement after three decades of negotiations.

THE National Congress promulgated this Tuesday (17) the legislative decree that ratifiesIn Brazil, the agreement between Mercosur and the European Union , concluding a negotiation process that spanned approximately 30 years. With ratification, the treaty moves towards… implementation phasewhich can start as early as May or in the coming months…depending on the final procedures between the blocs. The agreement establishes the creation of one of the world's largest free trade areas, bringing together… approximately 718 million people and a Combined Gross Domestic Product (GDP) exceeding US$22 trillion.The treaty provides for… Gradual reduction of import tariffs for a wide range of industrial and agricultural products, expanding market access and strengthening bilateral trade.

This text was translated by machine from Brazilian Portuguese.