Brazil ratifies the European Union and Mercosur free trade agreement

On March 5, 2026, the Brazilian Senate officially ratified the free trade agreement between the European Union and the Mercosur trade bloc. This decision follows the approval of the agreement by the Brazilian House of Representatives earlier in the week. The accord aims to establish one of the world's largest free trade zones, fostering deeper economic cooperation and trade relations between the EU and the South American nations of Brazil, Argentina, Uruguay, and Paraguay. Argentina and Uruguay completed their respective ratification processes last week. The agreement is currently pending final approval from the parliament of Paraguay to become fully effective for all involved member states. Once the Paraguayan legislature provides its consent, the comprehensive framework will be legally binding across all signatory parties.