Brazil Approves Free Trade Agreement with Palestine

Brazil has ratified a free trade agreement with the Palestinian Authority. 

The Brazilian Ministry of Foreign Affairs announced the decision on Monday, highlighting its contribution to the economic sustainability of a future Palestinian state capable of living in peace and harmony with its neighbors.

The ministry's statement emphasized that the agreement represents a "concrete contribution to establishing an economically viable Palestinian state."

Brazil, which recognized the Palestinian state in 2010 and allowed the establishment of a Palestinian embassy in its capital, approved the agreement on Friday.

The agreement was initially signed in 2011 between the South American trade bloc Mercosur and the Palestinian Authority.

A source from Uruguay's Ministry of Foreign Affairs confirmed Montevideo's support for the agreement, noting minimal opposition due to Mercosur's existing similar agreement with Israel.

However, it remains unclear if other Mercosur members will follow Brazil's lead. Argentina's current right-wing government under President Javier Milei is not expected to endorse the agreement.

Ibrahim Alzeben, the Palestinian Ambassador to Brazil, praised Brazil's decision as "courageous, supportive, and timely."

In a statement to Reuters, Alzeben expressed optimism that this move would bolster peace efforts in Palestine and hoped for an increase in trade volume between the Palestinian Authority and Mercosur, which currently stands at a modest $32 million annually