India-MERCOSUR Trade Agreement

EENI- School of International Business

Sub-subject: India-MERCOSUR Preferential Trade Agreement (PTA). Syllabus:

1. Introduction to the Preferential Trade Agreement between India and the MERCOSUR
2. The Origin of goods under the Preferential Trade Agreement
3. The Foreign Trade between India and the member countries of the MERCOSUR
4. Business Opportunities created by the agreement
5. Safeguard Measures
6. Procedure for dispute resolution of the Preferential Trade Agreement

Sample of the sub-subject: India-MERCOSUR Preferential Trade Agreement (PTA)

Description of the Sub-Subject: India-MERCOSUR Preferential Trade Agreement (PTA).

The objective of the Preferential Trade Agreement is to expand and strengthen the bilateral trade relations between MERCOSUR (Argentina, Brazil, Paraguay, Venezuela, and Uruguay) and India and to promote the growth of the international trade by granting reciprocal fixed tariff preferences with the final objective of creating a free-trade area between the MERCOSUR and India.

The major sectors covered under the India-MERCOSUR Preferential Trade Agreement are: meat, chemicals, leather products, iron and steel products, machinery items, and electrical machinery.

The India-MERCOSUR Preferential Trade Agreement (PTA) came into force in 2009.

The India-SACU Preferential Trade Agreement combined with the India-MERCOSUR and the Southern Africa Customs Union-MERCOSUR; it is envisioned that this will eventually lead to a free trade agreement (FTA) between India, the Southern Africa Customs Union and the MERCOSUR (a large 'free-trade area of the South').

Foreign Trade India-MERCOSUR

1. The Indian Exports to the Southern Common Market (MERCOSUR) were USD 2.25 billion
2. Top Indian export products Argentina: organic chemicals, pharmaceuticals, vehicles, clothing and accessories, articles of plastics, hydrocarbons and mineral oil products, and steel
3. Top Indian export products to Brazil: hydrocarbons, mineral oils, organic chemicals, pharmaceuticals, nuclear reactors, boilers, machinery and mechanical parts and instruments, vehicles, and articles of plastics
4. From India to Paraguay and Uruguay the top exported products are organic chemicals, essences, perfumes, pharmaceuticals, vehicles, electrical machinery, snuff, and clothing
5. In 2004, international trade amounted to 722 million dollars and 1,320 million in 2008 (an increase of 83%)

The MERCOSUR belongs to the Latin American Economic Area of the Western Civilisation and India to the economic area of the Hindu Civilisation.

India Free Trade Agreements