Italy Backs Landmark European-Mercosur Trade Deal

Italy has announced its support for a European trade agreement with the South American Mercosur bloc, as reported by Bloomberg News. This backing removes a significant obstacle in the negotiation process of a contentious free trade deal that has been discussed for over 25 years.

Italy is reportedly backing a pivotal European trade agreement with the Mercosur bloc, marking a critical step forward in the longstanding negotiations. According to a Bloomberg News report released on Monday, this development could clear a significant hurdle for the extensive trade deal.

The agreement, which involves South American countries within the Mercosur bloc, has been in discussions for approximately 25 years amid various disputes and challenges. Italy's support could potentially accelerate the deal's finalization.

Despite the Bloomberg report, Reuters has stated that it was unable to immediately confirm the validity of this development. The news highlights the shifting dynamics in international trade agreements and Italy's influencing role in the European Union's external relations.

(With inputs from agencies.)