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.
Abhishek Dayal/Garima Singh/Anushka Pandey