EU provisionally approves historic agreement with Mercosur

After decades of negotiations, the European Union is close to signing the largest free trade agreement in its history.

On Friday, member state ambassadors provisionally approved the agreement with the South American bloc Mercosur, paving the way for its official signing next week.

The Commission considers it a key tool for diversifying trade relations, particularly with the US and China.

Critics, however, warn of a negative impact on European agriculture, with protests by farmers affecting several countries. France and Poland remain opposed, while Italy has changed its position to "yes."

The agreement is expected to eliminate tariffs worth €4 billion and boost trade flows worth €111 billion. The EU is introducing protective measures for sensitive commodities.

(reuters, pir)