BRUSSELS: The EU gave Friday a long-delayed go ahead to a huge trade deal with South American bloc Mercosur championed by business groups but loathed by many European farmers — overriding opposition led by France.
A majority of the European Union’s 27 nations backed the pact at an ambassadors’ meeting in Brussels, diplomatic sources told AFP, paving the way for it to be inked in Paraguay next week.
More than 25 years in the making, supporters see the deal as crucial to boost exports, support the continent’s ailing economy and foster diplomatic ties at a time of global uncertainty.
German Chancellor Friedrich Merz hailed the agreement.
“The approval of the EU-Mercosur Agreement is a milestone in European trade policy and an important signal of our strategic sovereignty and capacity to act,” the German leader said.
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