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flag EU-Mercosur trade deal finalized after 25 years, hailed by Lula, pending ratification.

flag Brazilian President Luiz Inácio Lula da Silva hailed the EU-Mercosur trade agreement during a meeting in Rio de Janeiro on January 16, 2026, though he did not attend the formal signing in Asunción, Paraguay, where leaders from Argentina, Uruguay, and Paraguay were present. flag The deal, finalized after over 25 years of negotiations, marks the first major trade pact for Mercosur, including Brazil, Argentina, Paraguay, and Uruguay. flag Bolivia, a recent bloc member, was not involved in talks but may join later. flag European Commission President Ursula von der Leyen joined Lula in Rio, and Brazil’s Foreign Minister Mauro Vieira represented the country at the ceremony. flag The agreement aims to strengthen economic ties between the EU and South America, pending ratification.

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