Brussels (dpa) – A majority of European Union member states has approved the signing of the Mercosur free trade agreement with Brazil, Argentina, Uruguay, and Paraguay, according to sources on Friday.
During a meeting of representatives from the 27 EU nations in Brussels, enough countries expressed their support for the planned signing of the deal, as confirmed by diplomats. This new free trade zone, which will encompass over 700 million people, is set to be the largest of its kind globally, according to the European Commission.
The approval of the contentious agreement was facilitated by additional concessions made to the agricultural sector, which sees competition from the four Mercosur nations as a potential threat to European farmers. Agricultural products, such as beef, can be produced at a lower cost in South America compared to Europe.
The signing of the agreement was originally planned for December in Brazil. However, it could not secure the necessary majority of EU member states at that time, primarily because Italy conditioned its approval on further support measures for European farmers.
To pass, the deal needed a so-called qualified majority, requiring the backing of at least 15 out of the 27 EU states representing 65 percent of the bloc’s population. Italy’s approval was crucial as two other populous EU nations, France and Poland, oppose the agreement in its current format. (January 9)
The editorial responsibility for the publication lies with dpa.
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