Palestinian Minister of National Economy, Mohammad Al-Amour, welcomed today, Sunday, the deposit of the Federal Republic of Brazil’s document ratifying the MERCOSUR Free Trade Agreement, marking its entry into force between the two countries.
According to the Wafa agency, the MERCOSUR agreement includes Brazil, Argentina, Uruguay, and Paraguay. As per the procedures required for the agreement to come into effect, the member countries must ratify it according to their internal legal processes and deposit it at the designated center.
Palestine imports sugar, rice, tea, coffee, meat, and other goods from the MERCOSUR group. The agreement, in turn, provides opportunities for Palestine to export stone, marble, pharmaceuticals, traditional crafts, olive oil, and other national export products.
The agreement aims to remove trade tariffs, facilitate the movement of goods, and increase investment and cooperation opportunities between the two countries across various economic and trade sectors while ensuring fair competition conditions. Minister Al-Amour considered the document’s deposit a strategic step in implementing the MERCOSUR agreement and a foundation for developing and enhancing economic cooperation relations.
He stated, “The entry into force of the agreement is a significant pillar in developing bilateral relations, as it will contribute to enabling Palestinian exports to enter the Brazilian market duty-free, in addition to promoting investment partnerships between the private sectors in both countries.”
He expressed hope that other group countries would follow Brazil’s lead in quickly ratifying and depositing the agreement for it to come into effect among the MERCOSUR member states.
Al-Amour also thanked Brazil’s leadership, government, and people for their supportive stance on the Palestinian cause, both politically and economically, and their efforts to halt Israeli aggression against the State of Palestine.
