EU Pushes for Mercosur Trade Deal Amidst Italy's Hesitations

The European Union is set to hold urgent discussions with agriculture ministers to secure approval for a free trade deal with the Mercosur bloc. Concerns from Italy and France, regarding an influx of cheap commodities, have delayed the agreement. EU Commission promises increased funding support for farmers.

The European Union is rallying agriculture ministers for urgent talks as it seeks to secure approval for a controversial free trade agreement with the Mercosur bloc. Italy and France have raised concerns over a surge in inexpensive imports like beef and sugar, stalling the deal's progress.

To counter these apprehensions, the European Commission is offering reassurances about future funding for farmers through the Common Agricultural Policy. A proposed 6.3 billion euro crisis fund aims to sweeten the deal, though some countries remain uneasy about the merging of regional cohesion and CAP funds in the upcoming budget.

With Germany and Spain leading the charge, the EU aims to garner enough support from member states to move forward with the deal, potentially signing as early as January. Italy's position remains crucial, as negotiations hinge on ensuring imported goods adhere to the EU's rigorous health and environmental standards.

(With inputs from agencies.)