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Bras\u00edlia, Brazil — <\/span>Trade agreement between the South American block Mercosur and the European Union which ended a quarter century of negotiations<\/a> Brazilian Vice President Geraldo Alcmin said that offered some solace at a time when unilateral actions have come to dominate the geopolitical landscape.<\/p>\n He was one of the lead negotiators of the agreement reached at the end of 2024, which will come into force provisionally on May 1.<\/p>\n “At a moment when the world needed it so much, at a time of protectionism, a difficult world, it sends the message that opening markets is possible,” Elkmin said during an interview with media including The Associated Press at the presidential palace in Brasilia on Wednesday. “This is the biggest deal between trade blocs in the world. A market of $22 trillion and 720 million people.”<\/p>\n Strong opposition from farmers and environmentalists deal delayed<\/a> In December. It hit another hurdle after EU lawmakers referred the deal to the bloc’s judiciary. The EU executive responded by saying it would temporarily implement the agreement, which has been sidelined. European Parliament<\/a>. Once the trade agreement comes into force, it will be put on hold if the European Court of Justice rules against it.<\/p>\n Elkmin said not completing a deal with the EU would mean being left behind while other competitors complete other agreements. <\/p>\n “It’s a win-win. The societies of the Mercosur countries win, and so do the 27 EU countries,” said Elkmin, who expects Brazilian exports to the EU to grow by about 13% per year. <\/p>\n Trans-Atlantic Trade Agreement was signed on 17 January<\/a>. European Commission President Ursula von der Leyen repeatedly paid tribute to the administration of Brazilian President Luiz In\u00e1cio Lula da Silva for its efforts to push the deal through despite opposition in Europe. Brazil is by far the largest economy of Mercosur, with a GDP projected to exceed $2.3 trillion in 2025.<\/p>\n Elkmin confirmed that other potential deals are being negotiated with the United Arab Emirates and Canada.<\/p>\n Two decades ago, Alcmin and Lula were on opposite camps on almost every issue, including negotiations for an agreement between the EU and the bloc comprising Brazil, Argentina, Paraguay and Uruguay. While the man who was then governor of the powerful S\u00e3o Paulo state advocated compromise with European countries, Lula did not.<\/p>\n