The EU and South American economic bloc Mercosur have clinched a trade deal following 20 years of negotiations.
Brazil’s President Jair Bolsonaro said it was “historic” and “one of the most important trade deals of all time”.
In a statement, Brazil said the deal included eliminating tariffs on products such as orange juice, instant coffee and fruit, Reuters reported.
The Mercosur trade bloc consists of Argentina, Brazil, Uruguay and Paraguay.
Argentina’s Secretary of International Relations Horacio Reyser said the deal would create a market for goods and services covering 800 million consumers.
It would bring benefits for his country, he said, including boosting GDP, creating jobs and attracting investment.
Mr Reyser tweeted video of the moment the deal was confirmed.