Brazil's Senate unanimously ratified on Wednesday the free-trade deal between trade bloc Mercosur and the European Union, following the same move by the country's lower house and bringing the deal one step closer to implementation. The agreement seeks to integrate a total market of more than 700 million people.
Argentina and Uruguay, two other members of the bloc, have already ratified the deal, which was under negotiation for more than 25 years. Paraguay is expected to do the same. Bolivia, the newest Mercosur member, was not involved in negotiations but can join the agreement in the coming years.
Brazil is by far the largest economy of Mercosur, with a GDP estimated at more than $2.3 trillion in 2025. President Luiz Inácio Lula da Silva was one of the key backers of the deal, which is yet to be validated by the EU's top court.
The European Commission’s president Ursula von der Leyen repeatedly paid tribute to Lula for his efforts in making the deal happen despite opposition in Europe. Leaders say the all the economies involved put together add up to a GDP of $22 trillion.
Brazilian diplomats and Vice President Geraldo Alckmin have said the deal could come into force partially within months despite the legal case in Europe, which von der Leyen agrees with.
“Brazil's Congress once more is showing its institutional maturity and a move like this shows that it is siding with our society,” Sen. Davi Alcolumbre, the president of Brazil's Senate, said after the deal was ratified.
The trans-Atlantic trade deal was signed on Jan. 17, marking the end of a 25-year deadlock by European agricultural concerns over unfair competition.
But in recent months European farmers in tractors blocked roads and set off fireworks in Brussels to protest the trade deal.
French President Emmanuel Macron, one of the critics of the deal, has demanded safeguards to monitor and stop large economic disruption in the EU, increased regulations in the Mercosur nations like pesticide restrictions, and more inspections of imports at EU ports.
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