Asunción: The Paraguayan Government of President Santiago Peña announced that the ongoing negotiations with the United Arab Emirates to sign a Free Trade Agreement (FTA) with the Southern Common Market (Mercosur) were full steam ahead. Talks have progressed by 80% across 15 chapters, which include areas such as trade in goods, services, and rules of origin.
According to Nam News Network, the goal is to finalize and sign the agreement by the end of the current semester. Both sides are motivated to deepen their economic ties, as a successful deal would give Mercosur access to a high-purchasing-power market and help the UAE diversify its food sources and strengthen its food security.
According to Argentina’s Rosario Stock Exchange (BCR), trade between Mercosur and the UAE has shown remarkable growth in 2024, driven by the recovery of Argentine agricultural production following the drought.
Trade links between Mercosur and the United Arab Emirates have gained relevance in the last decade. Argentina, in particular, has found in the UAE a strategic market for its exports through points such as the port of Jebel Ali in Dubai, which concentrates a large part of the trade flow to the Arab country.
