India, Canada begin next round of talks on proposed trade pact

New Delhi [India], September 14 (ANI): India and MERCOSUR have launched negotiations to expand their existing Preferential Trade Agreement (PTA), in a move aimed at deepening economic relations and creating greater trade and business opportunities for companies on both sides.

The announcement was made by Union Minister of Commerce and Industry Piyush Goyal and Uruguay's Minister of Foreign Affairs Mario Lubetkin, who is currently acting in his capacity as the Pro Tempore President of MERCOSUR.

MERCOSUR is a regional economic grouping of South American countries. India has an existing Preferential Trade Agreement with the bloc, under which both sides provide preferential tariff concessions on specified products.