LAUNCHING OF NEGOTIATIONS FOR THE EXPANSION OF THE INDIA-MERCOSUR PREFERENTIAL TRADE AGREEMENT

Union Minister of Commerce and Industry of India, Piyush Goyal, and the Minister of Foreign Affairs of the Oriental Republic of Uruguay, Mario Lubetkin, acting in the exercise of the Pro Tempore Presidency of MERCOSUR, announced the launch of negotiations to expand the Preferential Trade Agreement between India and MERCOSUR. Both sides agreed to broaden the existing agreement to cover areas of mutual interest to deepen economic relations and generate greater opportunities for their private sectors. Currently, India and MERCOSUR are finalizing the Terms of Reference that will define the scope and structure of the expanded agreement.