Negotiations to expand the MERCOSUR-India Agreement

In the context of his official visit to India, the Vice President of the Republic and Minister of Development, Industry, Commerce and Services (MDIC), Geraldo Alckmin, met with the Minister of Commerce and Industry of India, Piyush Goyal, this Wednesday (October 16th) in New Delhi. During the meeting they reaffirmed their  willingness to deepen the economic ties between the two countries.

The authorities issued a Joint Declaration welcoming the commitment of the MERCOSUR Member States and India to negotiating the expansion of the scope of the MERCOSUR-India Tariff Preferences Agreement, in force since 2009, and to working to conclude these negotiations within one year following its launch.

Recently, the Strategic Council of the Foreign Trade Chamber (CEC) approved the renewal of the negotiating mandate to expand the agreement with India. The topic was also discussed at the MERCOSUR External Relations Group (GRELEX) meeting held in October.

The trade flow between Brazil and India reached $12.1 billion in 2024, with Brazilian exports totaling $5.3 billion. The main products included sugar, vegetable and mineral oils, cotton, seeds and horticultural products.

The initiative reaffirms the commitment of the Federal Government to diversifying partners and expanding Brazil's access to new markets, in line with the strategy of strengthening the international integration of the Brazilian economy.