US EditionEU poised to secure vital Italy backing for Mercosur deal
Italy secured agricultural safeguards, tighter import controls, and budget support to back the EU-Mercosur free trade deal, enabling a key EU vote to allow signature.
- The European Union hopes to sign a long-awaited trade deal with South American bloc Mercosur soon, after delays due to concerns from Italy and France over agricultural imports.
- The Mercosur deal would create the world's biggest free-trade area, boosting EU exports of vehicles, machinery and alcohol to Latin America in return for facilitating imports of South American agricultural goods like meat and sugar.
- Germany and Spain support the deal for industrial benefits, while Italy and France demand stronger safeguards to protect European farmers from cheaper Mercosur imports.
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89 Articles
Italy signals support for EU-Mercosur deal after Brussels offers farm concessions
Italy has indicated it will back the EU's long-stalled trade agreement with South America after the European Commission pledged to make €45bn in agricultural funding more readily available to farmers, removing a key obstacle to signing the pact.
EU promises fertiliser and import control guarantees as Mercosur deal heads for vote
The EU’s on-off trade deal with the South American Mercosur bloc is on the brink of the finishing line after EU officials offered new guarantees on fertiliser costs and import controls to obtain the support of the farming lobby.
Two days before the EU vote on the Mercosur Free Trade Treaty, Italy has moved away from its opposition to the agreement. Italian Foreign Minister Tajani praised the "enormous benefits" of the agreement and Minister of Agriculture Lollobrigida declared his country will "of course" approve the signing.
Italy has opened the door to give its green light, while Brussels hopes to sign the free trade agreement with Latin American countries very soon.
The safeguards to protect European farmers from the potential negative consequences of the agreement between the EU and the South American bloc Mercosur are strong enough, believes Agriculture Minister Mateja Čalušić, who estimates that the effects of the agreement will be positive for Slovenia.
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