CNN Brazil has reported that the agreement talks between Canada and Mercosur to eliminate tariffs on industrial and agricultural goods, services, intellectual property, and government purchases are set to resume after over three years. The initiative was halted by the Covid-19 pandemic.
The South American bloc of Brazil, Argentina, Uruguay, and Paraguay started negotiating with Canada in 2018 when other priorities took centre stage.
Three years later, a team of Canadian negotiators will be in Brasilia for the first round of discussions in the first week of May.
Brazilian media reported that the idea is to reach an agreement that covers not only the elimination of tariffs on industrial and agricultural goods but also services, investments, sanitary and phytosanitary measures, intellectual property, and government purchases, among other items.
In 2022, Brazil exported US$5.4 billion to Canada and imported US$5.2 billion with the major exports being gold, aluminium, semi-finished steel products, sugar, coffee, and Embraer aircraft.
Meanwhile, reports in Buenos Aires have it that Argentine leader Alberto Fernández, who is in charge of Mercosur’s pro-tempore presidency, will produce four documents to progress with the free-trade agreement between the European Union (EU) and Mercosur that was signed in 2019.
Basically, these documents have to do with the value chain and environmentalism, in addition to products with designation of origin. It was explained that these new documents “give new meaning to the agreement going forward” and “will be made available to Mercosur.”
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