Canada targets autumn for Mercosur trade agreement
International Trade Minister Maninder Sidhu announced plans to accelerate negotiations with the South American bloc. The goal is to reach a deal by the fall.
Canada is aiming to finalize a free-trade agreement with the South American Mercosur trade bloc by this autumn, according to statements from federal trade officials. The push to conclude the deal underscores a broader effort to strengthen economic ties with major markets in the Southern Hemisphere.
Maninder Sidhu, the Canadian Minister of International Trade, shared the updated timeline while attending a World Trade Organization ministerial conference in Cameroon. He indicated that negotiators are prepared to increase the frequency of their sessions to ensure the agreement is completed on schedule.
"We're stepping up the negotiation timelines a little bit. Hopefully we can have negotiations every six weeks or so, and hopefully we can get it done by the fall. That is the goal we've set between our partners."
The proposed schedule would see trade representatives meeting approximately every six weeks. This intensified approach is intended to resolve remaining technical details and finalize the framework of the pact, which has been under discussion as part of Canada's ongoing trade diversification strategy, according to reports from Reuters.
