The European Union on Jan. 5 said it hoped to sign a long-delayed trade deal with South American bloc Mercosur "soon," pointing to progress towards approval by the bloc's member states.
Diplomats have said the EU aims for a signature on Jan. 12 after hopes to ink the agreement in December were dashed by France and Italy joining forces to demand a delay.
European Commission chief spokeswoman Paula Pinho did not confirm the new January date but insisted the EU was on the "right track" for approval.
"There have been discussions, work, and progress over the past two weeks," she told a press conference in Brussels.
In a push to get the deal over the line, EU agriculture ministers will discuss the agreement today during an extraordinary meeting in Brussels.
European diplomats said that could be a prelude to a vote on Jan. 9 by member states, paving the way for an official signing.
More than 25 years in the making, the accord would create the world's biggest free-trade area, boosting trade between the 27-nation EU and the bloc comprising Brazil, Paraguay, Argentina and Uruguay.
But plans to seal the deal at a Mercosur gathering in Brazil on Dec. 20 ran into a late roadblock as heavyweights Italy and France demanded a postponement over concerns for the farming sector.
Germany and Spain are strongly in favor of the agreement, believing it will provide a welcome boost to their industries, hampered by Chinese competition and tariffs in the United States.
The deal would help the EU export more vehicles, machinery, wines and spirits to Latin America at a time of global trade tensions.
In return, it would facilitate the entry into Europe of South American meat, sugar, rice, honey and soybeans.
This has alarmed many European farmers who fear they will be undercut by a flow of cheaper goods from agricultural giant Brazil and its neighbors.
