The Mercosur-EFTA agreement represents a new step in the economic relations between Brazil and Norway, said on Wednesday the Norwegian Consul General in Rio de Janeiro, Trond Gabrielsen, who took office in August. The treaty between the South American bloc and the European Free Trade Association (formed by Switzerland, Norway, Iceland and Liechtenstein) was signed in September 2025.
According to the consul, the free-trade area between Brazil and Norway is expected to come into force on November 1, 2026.
“This means that the advantages of the agreement will come into effect for bilateral trade on November 1. And this applies to all sectors because there are several tariff-reduction plans. It is a new step in the economic relations between Brazil and Norway,” said the new consul at a breakfast with journalists.
The EFTA-Mercosur agreement covers an area of 300 million consumers. It is estimated that Brazil will have access to 14.3 million European consumers.
With the agreement in force, more than 50% of Norwegian exports will have tariffs eliminated. Among the exempted products is salmon, currently tariffed at 10%. “The remaining tariffs will be reduced gradually over 4 to 15 years,” the diplomat said.
Despite the commercial importance and the Norwegian presence in the Brazilian oil and gas sector, there are still no details about the impact on activity. The expectation is that service provision will be affected indirectly. Currently, more than 80 Norwegian offshore companies operate in Brazil. The companies offer specialized technologies in drilling, automation and lower-emission operations. “Brazil is one of the most important international markets for the Norwegian offshore industry,” the consul reinforced.
Gabrielsen highlighted that Brazil is Norway’s largest trading partner in Latin America, being the 5th largest destination for Norwegian investment in the world. In 2024, the latest available data, Norwegian investment accumulated in Brazil reached US$14 billion. Between 2022 and 2023, investments increased by US$2 billion, with renewable energy being the main drivers of growth.
