Chaired by Brazil’s Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, and India’s Minister of Commerce and Industry, Piyush Goyal, the meeting resolved that the mechanism should be governed by the goal that a significant portion of bilateral trade benefits from tariff preferences.

The expansion of the agreement should cover both tariff and non-tariff issues related to the trade and economic partnership, the Indian Ministry of Commerce and Industry underscored, regarding the talks.

Both parties agreed on promoting it with the active participation of the private sector and other stakeholders to support negotiations.

According to the principles established by the parties, the initiative should be supported by establishing a technical dialogue, including a meeting of the Joint Administration Committee to define the scope of the expansion.

The Brazilian representative indicated at the meeting that he will work with his MERCOSUR partners to achieve a substantial, rapid, and mutually beneficial deepening of the agreement.

abo/iff/otf/lrd