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New negotiation round between MERCOSUR and Canada

Friday, 02 August 2019
Information for the Press N°: 

It was held between 29 July and 2 August in Ottawa, and progress was made towards a trade agreement

The seventh negotiation round between MERCOSUR and Canada concluded today in Ottawa. It is a comprehensive and complex negotiation aimed at reaching a new-generation trade agreement.

Considerable progress was made on parameters for the exchange of revised offers of goods and a list of geographical indications that MERCOSUR seeks to protect in the Canadian market was presented. In addition, the technical teams made progress on sanitary and phytosanitary measures, as well as intellectual property measures. Agreements were reached on multiple sections of the chapters pertaining to the environment, government procurement and rules of origin, and the chapter on dispute settlement was practically concluded.

In addition, the next round of negotiations was tentatively scheduled to take place in Brasilia as from 18 November 2019.

Canada represents a market of 36 million consumers with a high income, and a GPD per capita of USD 45,000. In 2018, Canada purchased goods and services amounting to USD 540 billion and it is an important global investor with an FDI stock of over USD 1.5 billion dollars.