Finance
Brazil Congress Approves EU-Mercosur Deal
Published by Global Banking & Finance Review®
Posted on March 4, 2026
1 min readLast updated: April 2, 2026
Add as preferred source on GoogleGlobal Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 4, 2026
1 min readLast updated: April 2, 2026
Add as preferred source on GoogleBrazil’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.
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.
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.
Brazil's lower house of Congress signed off last week, and lawmakers in Argentina and Uruguay also approved the deal.
In Paraguay, the agreement still has to be voted on in the lower house of Congress.
(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)
It is a free trade deal negotiated between the European Union and the Mercosur bloc, which includes Argentina, Brazil, Paraguay, and Uruguay.
Not yet. Brazil, Argentina, and Uruguay approved it, but Paraguay's lower house still needs to vote.
Approval from all Mercosur members' legislatures is required before the agreement can take effect.
Negotiations have taken more than two decades to reach this stage.
Mercosur consists of Argentina, Brazil, Paraguay, and Uruguay.
Explore more articles in the Finance category
