Brazilian Congress approves the Mercosur EU Free Trade Agreement

Brasilia, March 4 (Xinhua) -- Brazilian federal senators voted on the 4th to approve the free trade agreement between the Southern Common Market (Mercosur) and the European Union.

The Southern Common City was founded by Argentina, Brazil, Paraguay, and Uruguay, officially launched in 1995, and Bolivia officially joined in 2023.

On January 17th, the Southern Common City and the European Union officially signed a free trade agreement in Asuncion, the capital of Paraguay, marking a decisive step towards creating one of the world's largest free trade zones. After the agreement is signed, it needs to be approved by the parliaments of each country before it can take effect. The Brazilian Federal House of Representatives approved the agreement on February 25th. The Uruguayan and Argentine parliaments also voted to approve this free trade agreement.