India and Brazil issue Joint Declaration to deepen the MERCOSUR–India Preferential Trade Agreement
On 16 October 2025 in New Delhi, Brazil's Vice President Geraldo Alckmin and Commerce Minister Piyush Goyal issued a Joint Declaration to substantially expand the MERCOSUR–India Preferential Trade Agreement, aiming to conclude talks within a year of their launch.
Summary
On 16 October 2025 in New Delhi, Brazil's Vice President and Minister of Development, Industry, Trade and Services Geraldo Alckmin and India's Commerce and Industry Minister Piyush Goyal issued a Joint Declaration welcoming the interest of India and MERCOSUR members in deepening their existing Preferential Trade Agreement (PTA). Recalling the India–MERCOSUR Framework Agreement of 17 June 2003, they agreed that the expansion should be substantial, covering a significant share of bilateral trade and both tariff and non-tariff issues, with private-sector participation. The next step is a technical dialogue, including a meeting of the Joint Administration Committee created under Article 23 of the PTA, to define the scope. The parties should try to conclude negotiations within one year of their launch, and Brazil said it would coordinate with its MERCOSUR partners.
Key facts
- Date/place
- 16 Oct 2025, New Delhi
- Signatories
- Geraldo Alckmin (Brazil VP) and Piyush Goyal
- Agreement
- MERCOSUR–India Preferential Trade Agreement
- Framework Agreement
- 17 June 2003
- Next step
- Joint Administration Committee (Article 23 of PTA) to define scope
- Target
- Conclude within one year of launch
Practice MCQs 3 questions
When was the Framework Agreement between India and MERCOSUR, recalled in the India–Brazil Joint Declaration of October 2025, signed?
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Correct answer: B — 17 June 2003
PIB: the Joint Declaration recalled the Framework Agreement signed between India and MERCOSUR on 17 June 2003.
Who signed the Joint Declaration on deepening the MERCOSUR–India trade agreement with Piyush Goyal on 16 October 2025?
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Correct answer: C — Geraldo Alckmin, Vice President of Brazil
PIB: the Vice President of Brazil and Minister of Development, Industry, Trade and Services, Geraldo Alckmin, and Piyush Goyal issued the Joint Declaration.
Consider the following statements about the India–Brazil Joint Declaration on the MERCOSUR–India PTA (October 2025): 1. The parties should endeavour to conclude negotiations within one year from their launch. 2. A meeting of the Joint Administration Committee created under Article 23 of the PTA is to help define the scope of the expansion. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
Both are correct. PIB: the parties should endeavour to conclude negotiations within one year; the next step includes a meeting of the Joint Administration Committee under Article 23 of the PTA to define the scope.