The Federal Senate approved, this Wednesday (4), the agreement between Mercosur and the European Union. With this, the draft legislative decree goes to the National Congress for promulgation.
As one of the main effects of the agreement, the blocs agree to eliminate tariffs, which will be immediate for some products and gradually for others. While Mercosur releases duties on 91% of European goods, immediately or within a period of up to 15 years, the European Union will remove import tariffs on approximately 95% of Mercosur products, now or within a period of up to 12 years.
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The rapporteur was senator and former Minister of Agriculture Tereza Cristina (PP-MS). For her, the success of the negotiations symbolizes “a link between the multilateral order that was consolidated in the post-war period and an increasingly fragmented and unpredictable international scenario.”
The parliamentarian warned, however, that Congress must monitor the application of the agreement, acting to identify regulatory bottlenecks and improve Brazilian legislation that affects the topic. “Only in this way can we ensure that the results of what is the most comprehensive extra-regional instrument ever designed are effectively translated into reciprocal and lasting gains”, he concluded.
The result of a 25-year negotiation, the agreement provides for the gradual reduction of tariffs between the two blocs, in addition to providing for common standards for trade in industrial and agricultural products.
To come into force, the agreement needs the approval of all countries in both blocs. So far, Uruguay, Paraguay and Argentina have already adhered to the text. On the other side of the Atlantic, the European Union still faces resistance that could delay the entry into force.
