The provisional trade agreement between Mercosur countries and the European Union can be voted on this Wednesday (4) by the Senate Foreign Relations Committee, starting at 10 am.
The text was signed by the leaders of the two blocs in January this year, together with a broader agreement that includes, in addition to the commercial part, chapters on political and institutional cooperation.
The international agreement provides for the gradual reduction of import tariffs between the five Mercosur countries and the 27 European Union countries, with an average period of up to 18 years for implementation. The measure also establishes common rules for trade in industrial and agricultural products, in addition to standards for investments between the blocs.
The text has already been approved by Argentina and Uruguay. In Brazil, the proposal still needs to pass the Senate to be ratified.
