European Union member states today approved by a qualified majority the long-awaited trade agreement between the Union and the Latin American bloc Mercosur, four EU diplomats told the Brussels-based Politiko website.
France, Poland, Austria, Ireland and Hungary voted against the agreement, while Belgium abstained.
Italy voted in favor today, after fighting for a postponement in December.
According to Politiko, EU capitals now have until 17.00pm today to file any objections and formalise the vote. This so-called written procedure gives political backing to the informal approval given by member states' ambassadors in Brussels.
Diplomats who spoke on condition of anonymity said that the EU ambassador also received approval for additional protection measures in the agricultural market that would come into effect in the event of a significant increase in imports from Brazil, Argentina, Paraguay and Uruguay.
The EU-Mercosur agreement is set to create the world's largest free trade area with around 700 million people.
From Brussels' perspective, the agreement represents a major geopolitical victory, given China's growing share of trade and influence in Latin America.
The agreement is also significant because everyone needs predictability at a time of tariffs being introduced by US President Donald Trump.
The European sectors of the automotive industry, aviation, machinery manufacturing, and agricultural exports of products such as wine and cheese are expected to benefit from tariff reductions under the EU-Mercosur agreement.
The Brussels portal states that European Commission President Ursula von der Leyen is expected to travel to Paraguay next week to sign the agreement, which was not confirmed by a Commission spokesperson today.
"We are now focused on the procedures in the (EU) Council. We will deal with the next steps once that is completed," Commission spokesman Olof Gil told a briefing.
After the agreement is signed by Von der Leyen and the Mercosur partners, the text goes to a vote in the European Parliament.
Irish MEP Kathleen Fanchon of Sinn Fein has already said that her party will vote against the agreement in the European Parliament.
"We know it's a bad deal for Irish agriculture, public health and the environment," she said, as reported by the Guardian.
Also, some parts of the agreement that go beyond trade policy will have to be voted on in the national parliaments of the member states.
The EU-Mercosur agreement has been hard at work for 25 years. Last year, the union amended the agreement to provide billions of euros in support for farmers who fear imports from the South American market.
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