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MERCOSUR Preferential Trade Agreement (PTA) Negotiations




MERCOSUR Preferential

Trade Agreement (PTA) Negotiations

  1. MERCOSUR is a trading bloc in South America region comprising of Argentina, Brazil, Paraguay and Uruguay. It was formed in 1991 with the objective of free movement of goods, services, capital and people and became a customs union in January 1995. MERCOSUR’s role model is European Union. It is the third largest integrated market after the European Union (EU), North American Free Trade Agreement (NAFTA).

  2. A Framework Agreement had been signed between India and MERCOSUR on 17th June 2003 at Asuncion, Paraguay. The aim of this Framework Agreement was to create conditions and mechanisms for negotiations in the first stage, by granting reciprocal tariff preferences and in the second stage, to negotiate a free trade area between the two parties .

  3. As a follow up to the said Framework Agreement, a Preferential Trade Agreement (PTA) between India and MERCOSUR was signed in New Delhi on January 25, 2004 and five annexes to this Agreement were signed and incorporated on March 19, 2005. The first two Annexes of the PTA are relating to the list of products on which the two sides have agreed to give fixed tariff preferences to each other. The subsequent three Annexes are related to the Rules of Origin, Preferential Safeguard Measures and Dispute Settlement Procedures respectively. By this PTA, India and MERCOSUR have agreed to give tariff concessions, ranging from 10% to 100% to the other side on 450 and 452 tariff lines respectively.

  4. The major sectors covered in offer list of India are meat and meat products, inorganic chemicals, organic chemicals, dyes & pigments, raw hides and skins, leather articles, wool, cotton yarn, glass and glassware, articles of iron and steel, machinery items, electrical machinery and equipments, optical, photographic & cinematographic apparatus. The break-up of the number of tariff lines for different margin of preferences (MOP ) is :- 93 tariff lines – 10%, 336 tariff lines – 20% and 21 tariff lines – 100%.

  5. The major product groups covered in the offer list of MERCOSUR are food preparations, organic chemicals, pharmaceuticals, essential oils, plastics & articles thereof, rubber and rubber products, tools and implements, machinery items, electrical machinery and equipments. The break-up of the number of tariff lines for different MOPs is: - 393 tariff lines – 10%, 45 tariff lines – 20% and 14 tariff lines – 100%.

  6. India- MERCOSUR PTA came into effect from 1st June, 2009. Implementation of India-MERCOSUR PTA was by WTO Sectt on 24.02.10.

  7. Expansion of India-MERCOSUR PTA - Through IBSA Declaration made by the Heads of India, Brazil and South Africa in 2006, it was agreed that India-MERCOSUR PTA would be expanded by increasing the number of products covered and increasing the tariff concessions agreed by each side.

  8. The first meeting of Joint Administrative Committee (JAC) on India-MERCOSUR PTA was held in November, 2009 in Uruguay to discuss the various aspects of the implementation and expansion of the Agreement. The 2nd meeting of JAC on India-MERCOSUR PTA was held in June, 2010, in which both sides exchanged their respective wish list of additional items for expansion of the PTA and discussed the further modalities of expansion of the PTA including exchange of their initial offers lists in the matter.






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Date: 13-12-2024
Notification No.85 /2024-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

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Date: 29-11-2024
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Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 21-11-2024
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Notification of ICD, Dhanakya, Rajasthan u/s. 7(1)(aa) of the Customs Act 196.

Date: 20-11-2024
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Date: 18-11-2024
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Date: 14-11-2024
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Date: 13-11-2024
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Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 30-10-2024
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Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 29-10-2024
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