India and MERCOSUR launch talks to expand preferential trade agreement

India and MERCOSUR announced the start of negotiations to expand their Preferential Trade Agreement (PTA) on September 14, with Commerce and Industry Minister Piyush Goyal and Uruguay's Foreign Minister Mario Lubetkin, representing MERCOSUR's Pro Tempore Presidency, making the announcement together. The two sides are finalising the Terms of Reference that will define the scope and structure of the expanded agreement, aimed at creating additional trade and business opportunities for both regions' private sectors. India has maintained a PTA with MERCOSUR since June 2009; it currently covers around 450 Indian tariff lines and 452 MERCOSUR tariff lines, with tariff concessions ranging from 10% to 100%. The same day, India's Commerce Secretary and the Ambassadors of Uruguay and Paraguay to India signed a separate protocol recognising electronic Certificates of Origin, giving them the same legal validity as paper-based certificates when issued and electronically signed under each country's domestic law - a trade-facilitation measure meant to streamline customs documentation alongside the broader PTA-expansion talks. MERCOSUR (Mercado Común del Sur) is the South American trade bloc comprising Argentina, Brazil, Paraguay and Uruguay.