June 28, 2019 / 5:58 PM / in 4 months

Brazil expects EU-Mercosur deal to boost economy, investments

FILE PHOTO: Brazil's President Jair Bolsonaro looks on during a ceremony for Government Secretary Jorge Antonio de Oliveira Francisco at the Planalto Palace in Brasilia, Brazil June 24, 2019. REUTERS/Adriano Machado

SAO PAULO (Reuters) - Brazil’s government said it expects a draft trade deal between the European Union and the Mercosur bloc to boost its economy and increase investments in the country over the next 15 years.

Brazil said the agreement will eliminate import tariffs on agricultural products including orange juice, instant coffee and fruits, adding that it will give domestic producers of meat, sugar and ethanol more access to the European market through quotas. Brazil’s President Jair Bolsonaro called the deal “historic” on Twitter.

Reporting by Marcelo Teixeira; Editing by Christian Plumb

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