India and MERCOSUR sign First Additional Protocol to their trade pact; talks to expand it launched
Key facts
- India and MERCOSUR signed the First Additional Protocol to their Preferential Trade Agreement (PTA).
- It moves Certificates of Origin to digital, paperless issue and checking.
- Commerce Minister Piyush Goyal and Uruguay's Foreign Minister Mario Lubetkin also launched talks to expand the PTA.
- The PTA was signed on 25 January 2004 and came into force on 1 June 2009.
Why it matters
[Trade] MERCOSUR is a South American trade bloc founded in 1991. Under the PTA, India gives concessions on 450 tariff lines and MERCOSUR on 452.
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