{"id":109520,"date":"2023-09-11T11:16:47","date_gmt":"2023-09-11T05:46:47","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109520"},"modified":"2023-09-11T11:16:53","modified_gmt":"2023-09-11T05:46:53","slug":"india-and-brazil-will-cooperate-to-work-for-the-expansion-of-pta-with-the-mercosur-bloc","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/india-and-brazil-will-cooperate-to-work-for-the-expansion-of-pta-with-the-mercosur-bloc\/","title":{"rendered":"India and Brazil will cooperate to work for the expansion of PTA with the Mercosur bloc"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-936810089\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>On Sunday, Brazil and India decided to cooperate in order to expand the India-Mercosur Preferential Trade Agreement (PTA) to further promote economic ties. An official statement said.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3200664243\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Brazil, Argentina, Uruguay, and Paraguay make up the Latin American commercial bloc known as Mercosur.&nbsp; During their meeting here on the sidelines of the G20 Summit, Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva brought up the subject.<\/p><p>&#8220;Expressing satisfaction over the growing trade between India and Mercosur, both leaders agreed to work together for the expansion of India-Mercosur PTA during Brazil&#8217;s Mercosur Presidency, to leverage the full potential of this economic partnership,&#8221; a joint statement issued after the meeting said.<\/p><p>The two countries also welcomed the establishment of the India-Brazil Business Forum as a dedicated platform for private-sector collaboration.<\/p><div class=\"trade-content_5\" id=\"trade-1589850254\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;The leaders noted with satisfaction the conclusion of domestic procedures for the entry into force of the India-Brazil Social Security Agreement,&#8221; it added.<\/p><p>India-Mercosur preferential trade agreement (PTA) came into effect on June 1, 2009.<\/p><p>Such agreements allow for the reduction or elimination of customs taxes between two nations on a specific list of items. The agreement would be expanded to cover more commodities and set standards to encourage service commerce and increase investment.<\/p><p>This PTA has limited coverage and contains only 450 tariff lines or products.<\/p><p>India&#8217;s exports to Latin America have increased to USD 17.7 billion in 2022-23 compared to USD 15 billion in 2021-22. Imports, on the other hand, rose to USD 22 billion in the last fiscal against USD 21.74 billion in 2021-22.&nbsp; The bilateral trade between India and Brazil has increased to USD 16.6 billion in 2022-23 from USD 12.2 billion in 2021-22.<\/p><div class=\"trade-after-content\" id=\"trade-3947142109\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Sunday, Brazil and India decided to cooperate in order to expand the India-Mercosur Preferential Trade Agreement (PTA) to further promote economic ties. An official statement said.&nbsp; Brazil, Argentina, Uruguay, and Paraguay make up the Latin American commercial bloc known as Mercosur.&nbsp; During their meeting here on the sidelines of the G20 Summit, Prime Minister [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":35332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-109520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India and Brazil will cooperate to work for the expansion of PTA with the Mercosur bloc - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"On Sunday, Brazil and India decided to cooperate in order to expand the India-Mercosur Preferential Trade Agreement (PTA) to further promote economic ties. 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