India and the MERCOSUR group of Latin American countries are in discussions to expand their preferential trade agreement, according to persons aware of the matter. The MERCOSUR trading bloc comprises Brazil, Argentina, Paraguay and Uruguay.
India and MERCOSUR signed the PTA in 2004, which allowed New Delhi to forge closer economic ties with one of the world’s largest trade blocs. In 2020, the combined GDP of the four MERCOSUR countries was $1.9 trillion with a total market of 295 million people.
Under the deal India and MERCOSUR have agreed to give tariff concessions ranging from 10% to 100% on 450 and 452 tariff lines respectively, according to the ministry of commerce and industry.
この記事は Mint Mumbai の April 14, 2023 版に掲載されています。
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