A vote on the Mercosur agreement is to be held by EU ambassadors on Friday, paving the way for the EU to sign the agreement on Monday, January 12, according to the news agency.
On Wednesday, EU agriculture ministers will meet to discuss the matter, the European Commission said, according to AFP.
The Mercosur agreement includes Argentina, Brazil, Paraguay and Uruguay, in addition to the EU.
Negotiations between the EU and its Mercosur partners on the agreement have been ongoing for 25 years.
A spokesman for the Italian government declined to comment on Bloomberg's reports of an Italian swing. France has also previously objected to the Mercosur agreement.
