President highlights that treaty, concluded this Friday (9) after 25 years of negotiations, should expand trade and investment between the blocs
President Luiz Inácio da Silva celebrated, this Friday (9), the approval of the trade agreement between the oea. In a post on social media, Lula classified the conclusion of the negotiations as a “historic day for multilateralism” and stated that the treaty represents a defense of international trade in a global scenario marked by “growing protectionism and unilateralism”.
After 25 years of negotiations, the text received the approval of European countries this Friday, paving the way for one of the largest free trade pacts in the world, which involves a combined market of 718 million people and a combined GDP of US$22.4 trillion, according to the president.
Lula stated that the agreement should expand opportunities for Brazilian exporters, facilitate European productive investments in Mercosur and simplify trade rules. For the president, the approval symbolizes a “victory of dialogue, negotiation and cooperation” between countries and regional blocs.
Itamaraty considers that the treaty can reinforce Brazil’s presence in global chains and open space for new trade flows. The expectation now is for the implementation stage, which involves internal procedures in the countries of both blocs before entry into force.
