On October 16, 2025, in New Delhi, the Vice President of Brazil (Geraldo Alckmin) and the Minister of Commerce and Industry of India (Piyush Goyal) met and agreed to deepen the Preferential Trade Agreement between India and the MERCOSUR Member States. They recalled the Framework Agreement signed between India and MERCOSUR on June 17, 2003.
Both parties agreed that expansion of the Agreement should:
* Be substantial, aiming for a significant share of bilateral trade to benefit from tariff preferences.
* Cover both tariff and non-tariff issues related to trade and economic partnership.
* Promote the active participation of the private sector and other stakeholders to support the negotiation process.
* Establish a technical dialogue between the Parties, including a meeting of the Joint Administration Committee created under Article 23 of the PTA, to define the scope of the expansion.
* Endeavor to conclude the negotiations within one year from the launch of negotiations.
The Brazilian side will work in a coordinated manner with its MERCOSUR partners towards a substantial, swift, and mutually beneficial deepening of the Agreement.
(Release ID: 2180058)
Key Entities Referenced
MERCOSUR: A South American trade bloc including Brazil, central to the trade agreement.
Preferential Trade Agreement: The existing agreement that India and MERCOSUR are deepening.
Framework Agreement: The initial agreement signed between India and MERCOSUR in 2003.
Joint Administration Committee: A committee established under Article 23 of the PTA to define the scope of expansion.
Ministry of Commerce & Industry
India–Brazil Joint Declaration for Deepening of
MERCOSUR–India Trade Agreement
Posted On: 16 OCT 2025 7:07PM by PIB Delhi
On the occasion of their meeting in New Delhi on 16th October, 2025, the Vice President of Brazil and
Minister of Development, Industry, Trade and Services, Geraldo Alckmin, and the Minister of Commerce and
Industry of India, Piyush Goyal, welcomed the interest of both India and the MERCOSUR Member States in
deepening their existing Preferential Trade Agreement, with a view to promoting trade and investment
between the Parties.
Recalling the Framework Agreement signed between India and MERCOSUR on 17 June 2003 with the aim of
strengthening relations and promoting the expansion of trade in conformity with the rules and disciplines of
WTO, they agreed that:
the expansion of the Agreement should be substantial, aiming for a significant share of bilateral
(cid:108)
trade to benefit from tariff preferences;
the expansion of the Agreement should cover both tariff and non-tariff issues related to trade and
(cid:108)
economic partnership;
the active participation of the private sector and other stakeholders to support the negotiation
(cid:108)
process should be promoted;
the next step in this initiative should be the establishment of a technical dialogue between the
(cid:108)
Parties, including the holding of a meeting of the Joint Administration Committee created under
Article 23 of the PTA at the earliest mutually convenient date, with a view to defining the scope of
the expansion;
parties should endeavour to conclude the negotiations within one year from the launch of
(cid:108)
negotiations.
In addition, the Brazilian side indicated that it will work in a coordinated manner with its MERCOSUR
partners towards a substantial, swift, and mutually beneficial deepening of the Agreement.
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AD/AN/SA
(Release ID: 2180058)