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EU-Mercosur trade deal finalized after 25 years, hailed by Lula, pending ratification.
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.
The deal, finalized after over 25 years of negotiations, marks the first major trade pact for Mercosur, including Brazil, Argentina, Paraguay, and Uruguay.
Bolivia, a recent bloc member, was not involved in talks but may join later.
European Commission President Ursula von der Leyen joined Lula in Rio, and Brazil’s Foreign Minister Mauro Vieira represented the country at the ceremony.
The agreement aims to strengthen economic ties between the EU and South America, pending ratification.
Acuerdo comercial UE-Mercosur finalizado después de 25 años, aclamado por Lula, pendiente de ratificación.