Source : WAM
EU ambassadors on Friday gave provisional approval for the signing of the bloc’s largest-ever free trade agreement with the South American Mercosur group, more than 25 years after talks began and following months of negotiations to secure support from key member states, according to three EU diplomats and other sources.
The European Commission, which finalized negotiations a year ago, along with countries including Germany and Spain, say the deal is crucial for the EU to open new markets, compensate for losses from US tariffs, and reduce dependence on China by gaining access to critical minerals.
Opponents, led by France the EU’s largest agricultural producer argue the deal will increase imports of cheap food, such as beef, poultry, and sugar, harming domestic farmers.
EU ambassadors from the 27 member states indicated their governments’ positions on Friday, with at least 15 countries, representing 65% of the bloc’s population, voting in favor, as required for approval, sources said. Member states have until 5 p.m. Brussels time (1600 GMT) to submit written confirmation of their votes.
This approval paves the way for European Commission President Ursula von der Leyen to sign the agreement with Mercosur members Argentina, Brazil, Paraguay, and Uruguay potentially as early as next week.
