Canada, Mercosur Eye Renewed Trade Talks

Canada and the South American trading bloc Mercosur have recently resumed preparations for potentially negotiating a future trade agreement, officials say, nearly five years after exploratory talks were held between them. These efforts were restarted after a technical working meeting was held between Canadian and Mercosur officials in Palacio San Martín of the Argentine Foreign Ministry, according to a press release issued last month. Argentine foreign ministry official Daniel Raimondi commented on the talks, noting the meeting was “highly productive” and that both Mercosur and Canada had expressed interest in moving forward. The press release reported that delegates exchanged information on their respective positions and negotiating experiences in this field, along with non-tariff barriers, investment and government procurement, and labour and environmental issues. New markets Both sides have been actively working toward taking on new or updated trade negotiating initiatives over the last several months. Canada has an increasingly busy agenda, including planned talks with the US and Mexico to “tweak” the North American Free Trade Agreement (NAFTA). Ottawa is also looking at next steps for the Trans-Pacific Partnership (TPP), along with discussing a potential trade deal with China, and preparing for the provisional application of the Comprehensive Economic and...