PARIS, Jan. 8 (Xinhua) -- French President Emmanuel Macron said on Thursday that France has decided to vote against the signing of the free trade agreement between the European Union and the South American bloc Mercosur.
On his social media account, Macron said that while France supports international trade, the EU-Mercosur agreement is "an agreement from another era," negotiated for too long on outdated grounds.
He noted that while trade diversification is necessary, the expected economic benefits of the agreement would be limited, with the European Commission estimating a gain of only about 0.05 percent of EU GDP by 2040.
Such gains, he said, do not justify exposing sensitive agricultural sectors that are essential to France's food sovereignty.
Macron said there is broad political opposition to the deal in France, as shown in recent parliamentary debates.
"In this context, France will vote against the signing of the agreement," he said, adding that at the European level, the priority today remains to accelerate the agenda for protection, competitiveness, and investment.
Negotiations for the deal, initiated more than 20 years ago, reached an agreement in principle in 2019 and were finalized in 2024.
The long-delayed deal is scheduled for a vote by EU member states on Friday. Procedurally, the deal would require approval under qualified majority voting by EU governments, meaning the support of at least 15 member states representing 65 percent of the bloc's population. ■
