March 5, New Delhi — Brazilian lawmakers have finalized their approval of a free trade agreement between the South American economic bloc Mercosur and the European Union, following a Senate vote on Wednesday.
The collective approval by the legislatures of Mercosur's member states – Argentina, Brazil, Paraguay, and Uruguay – is a necessary step for the trade agreement to take effect after more than two decades of negotiations.
The lower house of the Brazilian Congress signed off last week, and lawmakers in Argentina and Uruguay also approved the deal. In Paraguay, the agreement still needs to be voted on in the lower house of Congress.
