Israel has become the first country outside South America to sign a free trade agreement with the regional Mercosur bloc, which comprises Brazil, Argentina, Paraguay and Uruguay, according to Port2Port.
The agreement will come into effect in early April 2010.
Brazil expects the deal to boost bilateral trade, to more than US$3bn within five years, particularly in sectors like agriculture.
The long-awaited actions were announced by the South African government in a late night news release
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