Brazilian President Luiz Inacio Lula da Silva on Friday said the European Union and the South American bloc Mercosur are about to make history with the signing of a free trade agreement over the weekend, ending 25 years of negotiations between them.
Brazil’s President Luiz Inacio Lula da Silva attends a press conference with European Commission President Ursula von der Leyen, at the Itamaraty Palace in Rio de Janeiro, Brazil January 16, 2026. Reuters/Ricardo Moraes
Brazilian President Luiz Inacio Lula da Silva on Friday said the European Union and the South American bloc Mercosur are about to make history with the signing of a free trade agreement over the weekend, ending 25 years of negotiations between them.
Speaking to reporters next to the European Commission Chief Ursula von der Leyen in Rio de Janeiro, Lula said the deal will bring more opportunities for both sides, along with more trade and investments.
Top EU officials will travel to Paraguay on Saturday to sign the agreement with Mercosur, paving the way for the EU's largest ever trade accord. Lula is not expected to attend the ceremony.
Reporting by Fernando Cardoso
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