On Thursday, October 24, the Brazilian Chamber of Deputies approved the terms of the free trade agreement between Mercosur and the European Union, a deal that has been under negotiation for over 25 years. Following this approval, the agreement will move to the Senate for its final endorsement before concluding the internal ratification process in Brazil. This deal entails gradual tariff reductions and establishes common rules for the trade of industrial and agricultural products, investments, and regulatory standards.

The government, led by President Luiz Inácio Lula da Silva, celebrated this approval as a positive step for Brazil's economy and its international relations. The internal expectations are high, with projections indicating that the treaty could significantly boost Brazil's exports, attract foreign investments, and strengthen the country's international presence by providing easier access for Brazilian products to the European market. Additionally, there are hopes that the agreement will facilitate the entry of Brazilian agribusiness products into Europe, further opening international trade opportunities.

The approval of this agreement is seen not only as an economic boost but also as a potential electoral advantage for Lula's government. By enhancing export capabilities and improving market access, the administration aims to solidify its standing among business sectors and voters who prioritize economic growth and international penetration. The government feels optimistic that the impacts of this treaty will be beneficial in the long run, particularly in increasing Brazil's competitiveness on the global stage.