Commerce minister Piyush Goyal and Uruguay’s foreign affairs minister Mario Lubetkin announced the launch of negotiations to expand the 2009 preferential trade agreement between India and MERCOSUR.
Both sides are finalising terms of reference to cover areas of mutual interest, while also signing an additional protocol to facilitate electronic certificates of origin.
Total bilateral trade between India and MERCOSUR countries amounted to $17.48 billion during 2024-25, comprising $8.12 billion in exports and $9.36 billion in imports.