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Brazil’s Senate ratified the EU-Mercosur trade deal, creating a major free trade zone after 25 years.
Brazil’s Senate has ratified the EU-Mercosur trade agreement, a major deal after 25 years of negotiations that creates one of the world’s largest free trade zones.
The pact, already approved by Argentina and Uruguay, eliminates tariffs on over 90% of goods traded between the blocs, covering 700 million consumers and 30% of global GDP.
The European Commission has provisionally applied the agreement pending a final EU court ruling.
While Brazil and EU nations like Spain and Germany support it for boosting exports of cars, wine, and agricultural products, French and other European farmers oppose it, citing concerns over competition and lower environmental standards.
Paraguay remains the last Mercosur member to approve the deal.
El Senado de Brasil ratificó el acuerdo comercial entre la UE y el Mercosur, creando una importante zona de libre comercio tras 25 años.