This Wednesday (26), in Brasília, the Chamber of Deputies approved the free trade agreement between Mercosur and the European Union (EU). The text goes to the Senate, which will be the last stage of analysis before the agreement comes into force.
Recently, parliamentarians from European bloc countries that are against the agreement took the text to the Court of Justice in Luxembourg, which could delay implementation by up to two years. Still, diplomats on both sides are optimistic that the treaty will be put into practice before then.
The expectation is that the agreement will strengthen integration between the markets of the two blocs, reduce tariffs on products and expand trade and investment between South America and the euro zone.
In addition to the treaty with the European Union, Mercosur seeks to strengthen ties with other partners, such as Canada, South Korea and India. With the United States on one side and China on the other, countries tend not to align themselves commercially with either one.
