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Informist, Tuesday, Sept. 15, 2026

NEW DELHI – India and the South American trade bloc MERCOSUR Monday launched negotiations to expand their existing preferential trade agreement. Commerce Minister Piyush Goyal and Uruguay's Foreign Minister Mario Lubetkin, representing the country's Pro Tempore Presidency of MERCOSUR, jointly announced the launch of the negotiations, the commerce ministry said in a press release.

The MERCOSUR bloc comprises Argentina, Bolivia, Brazil, Paraguay, and Uruguay. Both the sides agreed to expand the current agreement to cover areas of mutual interest, with a view to further deepen economic relations, as well as creating greater benefits and opportunities for their respective private sectors, it said. India and MERCOSUR are currently in the process of finalising the terms of reference which will define the scope and structure of the future expanded agreement, it added. 

The launch of negotiations comes as India looks to expand its trade and economic engagement with countries and regional groupings across Latin America. India's total bilateral trade with MERCOSUR was almost $23 billion in 2025-26 (Apr-Mar), with Brazil holding the biggest share at $15 billion. End

US$1 = INR 95.55

Reported by Pratiksha

Edited by Akul Nishant Akhoury

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