EU's Crucial Vote on Mercosur: Trade Accord's Last Chance

EU countries are set to vote on a trade agreement with South America's Mercosur. The deal, negotiated last year, faces resistance due to fears of impacting agriculture. Approval requires support from 15 EU members representing 65% of its population. The vote's outcome remains uncertain.

European Union member states are gearing up for a critical vote early next week, which will determine whether to finalize a trade deal with Mercosur, a South American economic bloc comprising Argentina, Brazil, Paraguay, and Uruguay. Denmark, currently holding the EU's rotating presidency, announced that the agreement aims to be signed by year-end.

Reaching an agreement last December, the potential deal would be the EU's largest ever trade accord. Despite the achievement, the deal has met resistance, particularly from France and other member states, due to fears that increased imports could negatively impact their agricultural sectors.

The European Commission, responsible for negotiating the agreement, requires approval from 15 EU members, representing 65% of the EU population. While Germany, Spain, and Nordic countries express strong support, Poland opposes, and the positions of France and Italy remain unclear. An agreement is crucial, supporters argue, for the EU's strategy of diversification amid global geopolitical shifts.

(With inputs from agencies.)