Fávaro: Mercosur and European Union Agreement is very important for Brazilian agriculture

Published Dec 6, 2024

Tridge summary

Agriculture Minister Carlos Fávaro has announced a historic trade agreement between Mercosur and the European Union, which he believes will be beneficial for Brazilian agriculture. The agreement, which has taken 25 years to negotiate, will allow for zero tariffs on certain Brazilian products such as fruit, coffee, and will provide quotas for the export of sugar, chicken, beef, and ethanol with reduced tariffs. The agreement needs to be translated, legally reviewed, signed, and ratified by the parliaments of the Mercosur countries and the European Union before it can be implemented.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Agriculture Minister Carlos Fávaro described the trade agreement between Mercosur and the European Union as "very important" for Brazilian agriculture on Friday, the 6th. "Today is a historic day for diplomacy, especially Brazilian diplomacy. A historic day, thanks to the intervention and dedication of President Lula, we were able to formalize the agreement between Mercosur and the European Union. We have been seeking this agreement for 25 years, which is very important for our agriculture," Fávaro said in a video published on social media. The announcement of the final conclusion of the trade agreement was made during the Mercosur Summit in Montevideo, Uruguay. The agreed texts will be released in the coming days, according to the Ministry of Agriculture. The treaty still needs to be translated, legally reviewed, signed and ratified by the Parliaments of the Mercosur countries and the European Union (EU). For Fávaro, the agreement will allow greater "commercial freedom" for the ...

Source: Broadcast