Finance
Brazil Congress approves EU-Mercosur deal
Published by Global Banking & Finance Review®
Posted on March 4, 2026
1 min readLast updated: March 4, 2026
Quick Summary
Brazil’s Senate approved the long‑pending EU‑Mercosur free trade pact on March 4, following lower‑house approval; Argentina and Uruguay have ratified, Paraguay still pending lower‑house vote, and EU awaits European Parliament review and possible provisional application.
Brazil Congress Passes EU-Mercosur Free Trade Deal After Senate Approval
Overview of the EU-Mercosur Free Trade Agreement Approval
Final Approval by Brazilian Lawmakers
BRASILIA/SAO PAULO, March 4 (Reuters) - Brazilian lawmakers have finalized their approval of a free trade agreement between the South American economic bloc Mercosur and the European Union, following a favorable Senate vote on Wednesday.
Requirements for the Trade Agreement to Take Effect
Role of Mercosur Member Legislatures
The collective approval by the legislatures of Mercosur's members - Argentina, Brazil, Paraguay and Uruguay - is a necessary step for the trade agreement to take effect following more than two decades of negotiations.
Status of Approval in Member Countries
Brazil, Argentina, and Uruguay
Brazil's lower house of Congress signed off last week, and lawmakers in Argentina and Uruguay also approved the deal.
Paraguay's Pending Vote
In Paraguay, the agreement still has to be voted on in the lower house of Congress.
Reporting and Editing Credits
(Reporting by Maria Carolina Marcello in Brasilia and Andre Romani in Sao Paulo; additional reporting by Daniela Desantis in Asuncion, Editing by Daina Beth Solomon)
Key Takeaways
- •Brazil’s Senate approval completes its domestic legislative process after the lower house signed off last week, advancing the EU‑Mercosur deal along the final stretch.
- •Argentina and Uruguay have already ratified the agreement, while Paraguay’s lower house must still vote; upon completion, the pact can move to EU side for final approval and provisional implementation. (en.mercopress.com)
- •The deal remains subject to European Parliament consent and legal review by the EU’s Court of Justice, but provisional application may begin once Mercosur legislatures conclude ratification. (en.wikipedia.org)
References
Frequently Asked Questions about Brazil Congress approves EU-Mercosur deal
1What is the EU-Mercosur trade agreement?
It is a free trade deal negotiated between the European Union and the Mercosur bloc, which includes Argentina, Brazil, Paraguay, and Uruguay.
2Has the EU-Mercosur deal been fully approved?
Not yet. Brazil, Argentina, and Uruguay approved it, but Paraguay's lower house still needs to vote.
3Why is legislative approval needed for the EU-Mercosur deal?
Approval from all Mercosur members' legislatures is required before the agreement can take effect.
4How long have negotiations for the EU-Mercosur deal lasted?
Negotiations have taken more than two decades to reach this stage.
5Which South American countries are part of Mercosur?
Mercosur consists of Argentina, Brazil, Paraguay, and Uruguay.