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Mercosur-Palestine Free Trade Agreement Enters into Force Between Brazil and Palestine — Ministry of Foreign Affairs

Mercosur-Palestine Free Trade Agreement Enters into Force Between Brazil and Palestine — Ministry of Foreign Affairs

On July 5, 2024, Brazil deposited the instrument of ratification of the Free Trade Agreement between Mercosur and the State of Palestine. The instrument was submitted to Paraguay, the depositary country of that instrument.

The State of Palestine deposited its ratification on 30 April 2024. Upon the submission of the two communications, the Agreement shall enter into force for Brazil and the State of Palestine thirty days later. For the other States Parties to MERCOSUR, the instrument shall enter into force thirty days after notification of the deposits of the respective ratifications, when they occur.

The Mercosur-Palestine Free Trade Agreement was signed on December 20, 2011. This agreement represents a tangible contribution to the establishment of an economically viable Palestinian State, capable of living in peace and harmony with its neighbors.

The agreement also strengthens the regulatory framework aimed at expanding trade between Mercosur and Middle Eastern countries. The Mercosur-Israel Free Trade Agreement has been in force since 2010, and the Mercosur-Egypt Free Trade Agreement since 2017.

The Mercosur-Palestine Free Trade Agreement includes the following chapters: Trade in goods; Rules of origin; Bilateral safeguards; Technical regulations, assessment standards and procedures; Sanitary and phytosanitary measures; Technical and technological cooperation; Institutional arrangements and dispute resolution. This is an agreement to open markets for goods, with an evolutionary clause on the possibility of reaching future understandings on access to services and investment markets.

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