Netherlands Backs EU-Mercosur Trade Agreement

The Netherlands has officially announced its support for the EU's trade deal with South America's Mercosur bloc. This move is likely to facilitate the adoption of the agreement by the end of the year. The decision follows lengthy negotiations and a cost-benefit analysis highlighting economic advantages.

In a significant development, the Dutch government declared its support for the European Union's trade agreement with South America's Mercosur bloc on Friday. This endorsement could pave the way for the pact's approval later this year. The EU secured this deal with Argentina, Brazil, Paraguay, and Uruguay last December, concluding 25 years of negotiations.

The decision comes after the Netherlands, which had previously withheld support, conducted a thorough analysis of the agreement's potential impact. The findings suggested that the benefits to the Dutch economy outweighed the potential drawbacks, prompting the government to back the agreement.

European countries are set to vote on the trade deal next month, with the Dutch government noting that a large majority is presently in favor of the proposals. This support could crucially influence the agreement's final adoption, marking a pivotal moment in EU-Mercosur trade relations.

(With inputs from agencies.)