First round of negotiations between Mercosur and the United Arab Emirates concluded July 5

The first round of negotiations between Mercosur and the United Arab Emirates (UAE) concluded this Friday (July 5) with significant advances and a favorable outlook for signing a potential agreement. Paraguay coordinated this round.

The negotiations, which began on Monday, July 1, included expert negotiators from the delegations of Argentina, Brazil, Paraguay, Uruguay, and the United Arab Emirates. Intensive negotiation sessions were held for technical groups on Market Access for Goods, Rules of Origin, Sanitary and Phytosanitary Measures, Technical Barriers to Trade, and Services.

In this context, the review and analysis of the negotiating texts began, and there was a significant technical exchange on various relevant aspects in the chapters addressed. Coordinated work was also carried out at the level of Chief Negotiators.

Intending to conclude the negotiations this year, Mercosur members and the United Arab Emirates agreed to continue intercessional work virtually.

The United Arab Emirates is a highly relevant trading partner for Mercosur in commercial terms. It is one of the main partners in the Middle East. Therefore, there is great potential for expanding trade between both parties. In 2023, the total trade volume reported a positive trade balance for Mercosur, with exports valued at 3.5 billion dollars, while imports reached 1.6 billion dollars.

For Paraguay, there is potential for expanding exports of products such as beef and corn and new products like sugar, chicken meat, and wheat.

The Paraguayan delegation, which led Mercosur’s efforts, was headed by Chief Negotiator and Vice Minister of Economic Relations and Integration Patricia Frutos Ruíz, accompanied by coordinators of the technical groups from the Ministry of Foreign Affairs, the Ministry of Economy and Finance, the Ministry of Industry and Commerce, the Ministry of Agriculture and Livestock, the National Service of Plant and Seed Quality and Health, and the National Service of Animal Quality and Health.

Source: Agencia de Información Paraguaya

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