The legislative decree that ratifies the Provisional Trade Agreement between Mercosur and the European Union will be promulgated next Tuesday (17), in a joint session of the National Congress scheduled for 3:30 pm.
The text was signed in Paraguay in January and approved by the Federal Senate in early March. The agreement provides for the gradual reduction of tariffs on most products traded between the two blocs.
Under the established rules, Mercosur will reduce tariffs for 91% of products imported from the European Union, while the European bloc will apply tariff cuts to 95% of items originating from Mercosur.
According to the Brazilian government, the agreement is expected to come into force within 60 days after the promulgation of the legislative decree.
