Portugal can be an important ally in the Mercosur-EU agreement, says government

The Itamaraty said today (21st) that Portugal could be an important ally of Brazil in the context of negotiations for the ratification of the trade agreement between Mercosur and the European Union. The Portuguese government has been a supporter of the treaty. Portuguese Prime Minister Antônio Costa said, in October last year, that any non-ratification of the agreement would be a “historic mistake”. Approved in 2019, after 20 years of negotiations, the Mercosur-European Union free trade agreement needs to be ratified by the parliaments of all countries of the two blocs to enter into force, a procedure that involves 31 nations. It covers both tariff and regulatory issues, such as services, government procurement, trade facilitation, technical barriers, sanitary and phytosanitary measures, and intellectual property. According to the Ministry of Foreign Affairs, the agreement between the two blocs will be dealt with by President Luiz Inácio Lula da Silva in his talks with the Portuguese and Spanish during his visit to Europe that began this Friday (21). Trade and investments Trade between Brazil and Portugal was US$ 5.26 billion in 2022, an increase of 50.8% compared to the previous year. Brazilian exports totaled US$ 4.27 billion. Oil represents 59% of the total volume of exports from Brazil to Portugal. Agricultural products make up 20% of total exports. Portuguese agricultural products represent around 45% of Brazil’s imports. Portugal is the 16th country with the most investments in Brazil, with US$ 10.7 billion, according to data from the Central Bank. The energy sectors – exploration and production of oil and gas, as well as generation, transmission, distribution and commercialization of energy – concentrate most of the volume invested. The volume of Brazilian investments in Portugal is US$ 4.2 billion, especially in the aeronautics, steel, tourism, hotels, hospitals and infrastructure sectors. Official visit The official commitments begin tomorrow (22nd), when President Lula will participate in a welcoming ceremony at Praça do Império, in front of the Jerônimo Monastery, and in the laying of flowers next to the tomb of the Portuguese poet Luís de Camões, inside the monastery. Afterwards, Lula has a bilateral meeting with President Marcelo Rebelo de Sousa, at the Belém Palace. Afterwards, there will be lunch hosted by Prime Minister Antônio Costa and, in the afternoon, the 13th Luso-Brazilian Summit will take place at the Centro Cultural de Belém, with the signing of bilateral agreements. Initially, the two heads of government have a private meeting, followed by a plenary meeting with the two delegations. According to the Planalto Palace, at least 13 agreements and partnerships will be signed with the Portuguese government.

Agência Brasil