Brasilia: Brazilian President Luiz Inacio Lula da Silva announced that the free trade agreement between the Southern Common Market (Mercosur) and the European Union (EU) serves as a countermeasure to the rising tides of protectionism and unilateralism globally. He emphasized that the agreement offers protection to vulnerable sectors while fostering international cooperation.

According to Namibia Press Agency, Lula articulated in an opinion piece published across various media platforms that, during an era characterized by market isolation and restrictive global growth due to protectionism, Mercosur and the EU have opted for "a different path." The groundbreaking trade agreement, reached after over 25 years of negotiations, encompasses approximately 700 million individuals across 31 nations, accounting for about 25 percent of the world's GDP, thus establishing one of the largest free trade zones globally.

Lula highlighted that the agreement is set to enhance bilateral access to strategic markets under rules that are "clear, predictable and balanced." This is anticipated to stimulate investment, exports, and transatlantic production chains. The finalized agreement is designed to protect the interests of vulnerable sectors while ensuring environmental safeguards. It is projected to benefit diverse areas from the bioeconomy to high-tech industries, including small and medium-sized enterprises and farmers, and is expected to provide consumers with more choices at reduced costs.

Lula also stressed that the pact would promote an "active, representative, inclusive and fair" system of global governance, asserting that multilateralism remains crucial amidst growing political extremism and protectionism. He cautioned that the signing of the agreement is merely the initial step, and its success will rely on "swift and transparent" implementation to ensure its advantages are realized by markets, farms, factories, and citizens.

Edinho Silva, president of Brazil's Workers' Party, remarked, "It is a win-win agreement, without any form of imposition or subordination," contrasting it with actions by the United States that involve economic oppression or territorial expansion efforts.