On Tuesday (17), the National Congress will hold a solemn session to promulgate the decree approving the trade agreement between Mercosur and the European Union, after 27 years of negotiations between the two blocs. The ceremony is scheduled to take place at 3:30 pm in the plenary of the Federal Senate. The agreement provides for the gradual reduction of import tariffs on South American agricultural and industrial products to European markets. Furthermore, the new treaty also establishes rules for investments, services, public procurement and intellectual property. The Brazilian government estimates that the national Gross Domestic Product should grow by 0.34% until 2044 due to the implementation of the trade agreement, equivalent to approximately R$ 37 billion. Authorities believe that the agreement should enter the implementation phase in the coming months of this year.
This text was translated by machine from Brazilian Portuguese.