After 26 years of negotiations, the EU is set to approve the trade agreement with the South American Mercosur countries. A qualified majority of EU nations granted their approval at a recent meeting of permanent representatives.
Formal approval is expected through a written procedure, likely to be finalized by Friday evening, as reported by an EU diplomat. This would allow European Commission President Ursula von der Leyen to possibly travel to South America next week to sign the agreement.
Italy played a crucial role in the final vote due to the EU’s unique rules regarding qualified majorities, which require support from 15 out of 27 member states representing at least 65% of the EU’s population. Large countries like France and Poland opposed the agreement, making Italy’s support pivotal.
During the EU summit in December, Italian Prime Minister Giorgia Meloni expressed the need for more time to secure better protections for European agriculture. The results of these negotiations led Italy to ultimately approve the deal.
The Mercosur trade bloc includes Argentina, Bolivia, Brazil, Paraguay, and Uruguay, creating a market of over 700 million consumers across these countries and the EU. The agreement is anticipated to boost exports and revenue for Europe.
However, it has faced significant protests from farmers in countries like France, Poland, and Belgium. In light of this, French President Emmanuel Macron announced on Thursday that France would oppose the agreement, emphasizing it is outdated and has been negotiated for too long. He noted that the French parliament has unanimously rejected it.
Despite France’s opposition, the agreement has gained importance as the EU seeks to reduce its reliance on the United States amid tariffs imposed by former President Donald Trump on European goods, prompting the EU to pursue new markets.
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