Commerce and Industry Minister Piyush Goyal and the Minister of Foreign Affairs of the Oriental Republic of Uruguay, Mario Lubetkin has announced the launch of negotiations for the expansion of the Preferential Trade Agreement between the Republic of India and MERCOSUR.

 

Both the Ministers 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. 

 

Ministry of Commerce and Industry said that India and MERCOSUR are in the process of finalizing the Terms of Reference which will define the scope and structure of the future expanded agreement.