Representatives of society discussed the agreement with the European Union at Rio’s Museum of Tomorrow on Monday, the first day of the event. The text of the deal, drafted in 2019 after over 20 years of talks, was considered unfair and unequal.
Brazil and Hungary pledged to work towards the ratification of the Mercosur–European Union (EU), as stated in a joint note issued Wednesday (Oct 9).
The Brazilian industry and government will have to “run against time” to prepare the auto sector for the commercial agreement between Mercosur and the European Union (EU), said Luiz Carlos Moraes, head of Brazil’s national car makers’ association Anfavea.
Brazilian Foreign Minister Ernesto Araújo said the commercial agreement between Mercosur and the European Union (EU), unveiled last week, has already made a visible impact, despite awaiting ratification by Parliaments in each of the 32 countries involved.
The commercial agreement between Mercosur and the European Union (EU) may bring gains close to $130 billion to Brazil’s GDP in ten years. The estimate was made public Monday (Jul 1) by Lucas Ferraz, secretary for Foreign Trade with the country’s Economy Ministry.