Brazil’s economic activity index beat expectations by 1.2% in July

Brazil’s Lula expects to reach a trade deal with the EU within six months if elected

Ṣo Paulo (Reuters) РBrazilian presidential candidate Luiz Inacio Lula da Silva said on Wednesday he must reach an agreement on a trade deal between the South American trading bloc Mercosur and the European Union within six months if he wins the presidential election in October.

The former president and first candidate of Canal Rural, a local station focused on agriculture, said Brazil needed the deal and should export as much as possible, especially in the agricultural sector.

Sources told Reuters last month that European Union representatives had contacted the Brazilian government in an effort to revive talks with the Mercosur bloc of Argentina, Brazil, Paraguay and Uruguay.

According to a Brazilian official, the call came amid rapid changes in global supply chains in the wake of the pandemic and the Ukraine war, increasing Brazil’s influence as an agricultural power.

Negotiations for a deal were completed in 2019, but environmental concerns stymied the deal before it could be approved by the legislatures of EU member states.

A poll finally showed Lula extending his lead over incumbent President Jair Bolsonaro ahead of the first round of voting on October 2.

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