403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Swiss Upper House Backs Mercosur Trade Deal, Boosts Farm Aid
(MENAFN) Switzerland's Council of States, the upper chamber of parliament, approved a free trade agreement with the Mercosur bloc on Monday by a vote of 31 to seven, with three abstentions, according to Swiss outlet 20 Minuten.
Alongside the deal, lawmakers in the upper house signed off on 517 million Swiss francs ($646 million) in support for Swiss farmers, intended to cushion the anticipated blow to domestic agriculture from the agreement.
The vote marks a reversal of sorts: the National Council, parliament's lower house, had rejected the same agreement during its summer session.
Critics of the deal — including the Social Democratic Party and the Green Party — had pushed for additional safeguards targeting deforestation and forced labor tied to the trade pact. The Council of States declined to adopt those measures, opting instead to approve the expanded farmer compensation package.
The Swiss Farmers' Association had initially pushed back against an earlier compensation offer of 158 million Swiss francs ($197 million), demanding closer to 880 million Swiss francs ($1.1 billion) in support, citing worries over duty-free imports of South American products such as beef and wine flooding the market.
The compromise ultimately approved by the upper house incorporates four separate measures designed to preserve the competitiveness of Swiss agriculture going forward.
The Greens have warned they may call for a referendum if the agreement moves forward without stronger environmental and social provisions attached.
Attention now turns to the National Council, which is expected to take up the Mercosur agreement again as early as Sept. 23, following the upper house's approval.
Alongside the deal, lawmakers in the upper house signed off on 517 million Swiss francs ($646 million) in support for Swiss farmers, intended to cushion the anticipated blow to domestic agriculture from the agreement.
The vote marks a reversal of sorts: the National Council, parliament's lower house, had rejected the same agreement during its summer session.
Critics of the deal — including the Social Democratic Party and the Green Party — had pushed for additional safeguards targeting deforestation and forced labor tied to the trade pact. The Council of States declined to adopt those measures, opting instead to approve the expanded farmer compensation package.
The Swiss Farmers' Association had initially pushed back against an earlier compensation offer of 158 million Swiss francs ($197 million), demanding closer to 880 million Swiss francs ($1.1 billion) in support, citing worries over duty-free imports of South American products such as beef and wine flooding the market.
The compromise ultimately approved by the upper house incorporates four separate measures designed to preserve the competitiveness of Swiss agriculture going forward.
The Greens have warned they may call for a referendum if the agreement moves forward without stronger environmental and social provisions attached.
Attention now turns to the National Council, which is expected to take up the Mercosur agreement again as early as Sept. 23, following the upper house's approval.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment