Promulgation of the Provisional Trade Agreement between MERCOSUR and the European Union – Joint Press Release by MRE, MDIC, and MAPA

President Luiz Inácio Lula da Silva signed today (28 April) a Decree incorporating the Provisional Trade Agreement between MERCOSUR and the European Union into the Brazilian legal framework.

The result of more than 25 years of negotiations, the Agreement represents a historic milestone for both blocs. As of the start of its provisional application on 1 May, it will establish one of the largest free trade areas in the world, comprising 31 countries, 720 million people, and a combined GDP exceeding US$22 trillion.

The swift promulgation of the MERCOSUR–EU Agreement reflects the priority given to this matter by President Lula since the beginning of his third term. The Agreement will benefit Brazilian society as a whole by contributing to the expansion of Brazil’s global partnerships, increasing and diversifying exports, reducing costs for producers and consumers, and generating income and new opportunities for workers and companies.

Click here to access the factsheet on the Agreement.