Brazilian President Luiz Inácio Lula da Silva and European Commission President Ursula von der Leyen on Friday celebrated the expected signing of the free trade agreement between the EU and four South American countries the following day at a ceremony that Lula will not attend.
This is the first major trade agreement for Mercosur, which includes the region’s two biggest economies, Brazil and Argentina, along with Paraguay and Uruguay. The two blocs are expected to formally sign their quarter-century-in-the-making trade pact this Saturday at a ceremony in Paraguay. Bolivia, the newest Mercosur member, was not involved in negotiations but can join the agreement in the coming years.
