EU-Mercosur trade Deal Poised for breakthrough This Week, Spain’s Minister Predicts
A landmark trade agreement between the European Union and Mercosur could be unlocked within days, spurred by a potential shift in Italy’s position, according to Spain’s Minister of Agriculture, Fisheries and Food, Luis Planas. The anticipated move would pave the way for a qualified majority vote authorizing the deal’s signature, ending years of stalled negotiations.
Planas expressed optimism on Wednesday that Italy will signal its support, following statements from both Italian Minister of Agriculture, Food Sovereignty and Forestry, Francesco lollobrigida, and Prime Minister Giorgia meloni. “I understand the words of the Italian minister, Francesco Lollobrigida, and also those of yesterday from the italian Prime Minister, Giorgia Meloni, that Italy is going to take a step forward,” Planas stated. “this means that we expect that this same week, a qualified majority agreement can predictably be adopted, allowing for the signing of Mercosur.”
Key vote Looms friday
The timeline now rests with the permanent ambassadors of EU member states,who are scheduled to vote on the agreement this Friday. A successful vote could lead to the formal signing in the immediate days following. This development marks a notable turning point in the long-stalled negotiations, which have faced opposition from various agricultural sectors concerned about potential impacts on European farmers.
Alongside the trade deal progress, Planas highlighted the importance of addressing concerns raised by European farmers. He described a recent meeting as “necessary and opportune” to “restore the confidence of European farmers,” following discontent expressed in December regarding proposals from the European Commission, notably concerning the Common Agricultural Policy (CAP) and broader agricultural agenda items.
Planas lauded a recent proposal from the European Commission to advance liquidity totaling approximately €45 billion ($48.6 billion USD) linked to CAP objectives as “an engaging and significant advance.” However, he cautioned that the budgetary debate “has not concluded” and further negotiation is required.
The minister emphasized the need to balance the benefits of expanded trade with the protection of European agricultural interests.This delicate balance has been a central challenge throughout the Mercosur negotiations. A successful outcome will require continued dialog and compromise to ensure a fair and sustainable agreement for all parties involved.
Why: Years of stalled negotiations between the EU and Mercosur were nearing a breakthrough due to a potential shift in Italy’s position. Concerns from European farmers regarding the impact on their livelihoods had previously stalled the deal.
Who: Key players include Spain’s Minister of agriculture, Fisheries and Food, Luis Planas; Italian Minister of Agriculture, Food Sovereignty and Forestry, Francesco Lollobrigida; Italian Prime Minister Giorgia Meloni; and the permanent ambassadors of EU member states.The agreement involves the european Union and the Mercosur trade bloc (Argentina, Brazil, Paraguay, and Uruguay).
What: A landmark trade agreement between the EU and Mercosur is poised for a vote this Friday. If passed, it would create one of the world’s largest free trade areas.
How did it end?: The agreement’s fate now rests with the EU member state ambassadors, who will vote on Friday. A successful vote would lead to a formal signing shortly after, ending the years-long stalemate. While the deal is not yet finalized, the anticipated support from Italy significantly increases the likelihood of its approval.
