Argentina pushes for expansion of India-Mercosur trade pact

Argentina is advocating for the expansion of the preferential trade agreement between India and the Mercosur trade bloc. Currently, the existing pact is limited to only 450 tariff lines, which officials describe as a narrow slice of the total bilateral trade.

During a visit by a delegation of 23 business leaders from the Confederation of Indian Industry (CII) and Indian Commerce Secretary Rajesh Agrawal to the Buenos Aires Grain Exchange, a memorandum of understanding was signed. This agreement aims to establish a permanent institutional framework to promote trade and investment between the two nations.

Argentine Ambassador to India, Mariano Caucino, noted that while bilateral trade has exceeded $6 billion, any expansion of the Mercosur-India pact must be negotiated collectively by all member states—Argentina, Brazil, Paraguay, and Uruguay—rather than through bilateral deals. He expressed optimism regarding a consensus among Mercosur members to broaden the agreement to cover more goods and services.