The Mercosur South American trade bloc and Canada have begun talks on a comprehensive free trade agreement that will deepen the relationship between the two and cover areas including market access for goods and services and labour.
The agreement was made earlier this month in Asunción, Paraguay between Ministers of the Mercosur states – whose full members are Argentina, Brazil, Paraguay and Uruguay – and Canada’s Minister of International Trade, Honourable François-Philippe Champagne.
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At the conclusion of their meeting, the ministers underscored the opportunity to establish a comprehensive, progressive and commercially meaningful FTA for the mutual benefit of Canada and Mercosur.
“Strengthening ties through enhanced trade and investment flows is an integral step toward a shared interest in sustainable prosperity and a shared commitment to trade liberalisation and open markets,” the two said.
Mercosur and Canada will seek to negotiate issues such as market access for goods and services, labour, the environment, trade and gender, micro-, small and medium-sized enterprises, among others. Integrating these elements, they say, will “reinforce a collective commitment to lasting economic growth and development for all people.”
The first round of negotiations will take place in Ottawa, Canada, from 20-23 March.
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By GlobalDataMercosur is currently in talks for a free trade agreement with the European Union (EU). It was expected to be concluded in 2017 but negotiations will continue into this year.
EU-Mercosur FTA conclusion unlikely in 2017
