The Latest Breaking News from Mercosur

Three votes in the European Parliament could derail the largest free trade area ever struck by the European Union – or at least significantly change it.

Twenty-five years after negotiations began, the fate of the free trade agreement between Mercosur and the EU is nearing its conclusion, but the struggle between backers and opponents remains tough.

Inserted into a parliamentary resolution, a few lines welcoming the Mercosur agreement were rejected by a majority of European lawmakers on Wednesday.

The EU-Mercosur Partnership Agreement foresees creation of the world's largest free trade zone. It took 25 years to reach an agreement that is now on the table for ratification. However, the process the European Commission has put in place is being challenged by several sectors.

The European Commission is giving in to French demands by strengthening oversight of the most sensitive agricultural markets, in the hope of defusing resistance from farmers.

According to several sources, the agreement reached by the EU and the Mercosur countries has been reviewed by the European Commission’s legal service and translated, but its submission to the Member States for ratification has been put on hold.

Brazil’s ambassador to the EU, Pedro Miguel da Costa e Silva, has accused opponents of the Mercosur agreement of spreading disinformation, making unreasonable demands, and holding unrealistic expectations.

Speaking during his first state visit to France Thursday, Brazilian President Luiz Inacio Lula da Silva urged his French counterpart Emmanuel Macron to back an EU trade deal with four Latin American countries. French farmers have warned that the EU-Mercosur deal could be devastating for the country's domestic agriculture industry.

Indigenous peoples' representatives fear that increased trade with Europe will lead to the agricultural exploitation of their territories

Brazilian trade official Jorge Vian considered the current international trade climate favourable for concluding the EU Mercosur deal.

The EU and four South American countries have concluded a huge, but controversial trade deal that is opposed by France and many European farmers, European Commission chief Ursula von der Leyen announced on Friday.