EU Ministers Unite in Critical Talks on Mercosur Trade Deal

The European Union is rallying member countries to agree on a free trade deal with Mercosur. Italy and France are hesitant due to concerns over agricultural impacts. EU agriculture ministers meet to discuss import controls and farmer support, seeking broad consensus for the deal's approval.

The European Union is making a last-minute push to secure approval for a contentious free trade deal with the South American bloc, Mercosur. The EU agriculture ministers gathered for critical discussions, aiming to persuade Italy and other hesitant member countries to support the agreement.

Although a December deal was previously derailed by Italy and France, who expressed concerns over potential impacts on local farmers, EU commissioners are expected to provide reassurances about future funding under the Common Agricultural Policy. This includes a significant crisis fund, as well as merging regional cohesion and CAP funds in the upcoming budget.

The EU executive aims to gain the backing of 15 member countries representing 65% of the EU population to authorize the signing of the deal. The agreement—25 years in the making—could significantly boost EU exports and reduce reliance on China. Discussions continue to address Italy's concerns on import standards.

(With inputs from agencies.)