Portugal should position itself as the main European platform for Brazil within the framework of the free trade agreement between the European Union and Mercosur. This position was advocated by Vitalino Canas, president of the Brazil-Europe Integration Forum (FIBE) and former Secretary of State, during a debate on the opportunities and challenges of the agreement. According to the official, Brazilian companies tend to look at Portugal as the natural anchoring point to enter the European market, taking advantage of cultural proximity, ease of communication and existing institutional ties.
On the Portuguese side, the agreement opens favorable prospects for traditional sectors of the national economy, namely the agri-food sector. Products such as wine and olive oil currently face high customs duties in the Brazilian market, placing them at a disadvantage against competitors from Chile and Argentina. With the gradual elimination of import taxes, Portuguese producers could gain ground in a large market, although the practical impact will only be felt progressively over the coming years.
The agreement covers a joint market of more than 700 million consumers and a combined GDP of around 19 trillion euros. The elimination of tariffs on more than 90% of trade between the two regions is foreseen. The treaty has already entered into provisional effect after ratification by the founding countries of Mercosur (Brazil, Argentina, Uruguay and Paraguay), but still awaits the ratification process in the European Parliament, facing opposition from agricultural sectors in countries such as France and Poland.