Brazil, Hungary stand up for ratification of Mercosur–EU deal

Brazil and Hungary pledged to work towards the ratification of the Mercosur–European Union (EU), as stated in a joint note issued Wednesday (Oct 9). The document lists the topics discussed by Hungary Minister of Foreign Affairs Péter Szijjártó during his recent visit to Brazil.

Szijjártó met in Brasília with Brazilian Foreign Minister Ernesto Araújo, with whom he presided over the 5th Brazil–Hungary Mixed Economic Commission. Szijjártó was also welcomed by President Jair Bolsonaro during a courtesy visit.

Brazil and Hungary describe the accord as a “tool for the creation of business and investment opportunities, and the promotion of competitiveness and sustainability.”

The pact between the two blocs was finalized on June 28, after nearly 20 years of talks. The text is still being scrutinized before being submitted to the parliaments of all countries making up the EU and Mercosur.

Hungary’s economy is among the most dynamic in Europe today, and grew more than the EU average. In the first half of this year, its expansion stood at five percent.

Brazil is home to a thousand people of Hungarians decent, most of whom live in São Paulo and southern state, the note adds.

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