·
Major Announcement:
Union Minister of Commerce and Industry Piyush Goyal and Uruguay's Minister of
Foreign Affairs Mario Lubetkin (representing the MERCOSUR Pro Tempore
Presidency) formally announced the launch of negotiations to expand the
India-MERCOSUR Preferential Trade Agreement (PTA).
·
Core Objective:
The expansion aims to cover new areas of mutual interest, deepen economic ties,
and generate greater market benefits and opportunities for private sectors in
both regions.
·
Next Steps:
Both sides are actively working to finalize the Terms of Reference,
which will establish the precise scope and structural framework for the future
expanded trade agreement.
[ABS News Service/15.09.2026]
Union Minister of Commerce and
Industry of India, Piyush Goyal and the Minister of Foreign Affairs of the
Oriental Republic of Uruguay, Mario Lubetkin, in the exercise of the Pro
Tempore Presidency of MERCOSUR announced the launch of negotiations for the
expansion of the Preferential Trade Agreement between the Republic of India and
MERCOSUR.
Both sides agreed to expand the
current Agreement to cover areas of mutual interest, with a view to further
deepening their economic relations, as well as creating greater benefits and
opportunities for their respective private sectors.
In this regard, the Republic of India
and MERCOSUR are in the process of finalising the Terms of Reference which will
define the scope and structure of the future expanded agreement.