First Round of Negotiations Between MERCOSUR and the United Arab Emirates
Under the coordination of Paraguay, the First Round of Negotiations for a Comprehensive Economic Partnership Agreement (CEPA) between MERCOSUR and the United Arab Emirates (UAE) began yesterday in Asunción.
The meetings of the First Round will continue through Thursday, July 4, with the participation of more than 50 negotiators across the various technical working groups, which will address issues related to Market Access for Goods, Rules of Origin, Trade in Services, Technical Barriers to Trade, and Sanitary and Phytosanitary Measures, as well as sessions between Chief Negotiators.
The opening remarks were delivered by Ambassador Patricia Frutos Ruíz, Vice Minister of Economic Relations and Integration, who reaffirmed the high priority that this negotiation holds for Paraguay and MERCOSUR’s commitment to working toward its swift conclusion.
Paraguay’s delegation includes representatives 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 for Plant and Seed Quality and Health, and the National Animal Health and Quality Service.
The other MERCOSUR delegations are led by Counselor Verónica López Gilli (Argentine Republic), Ambassador Philip Fox Drummond Gough (Federative Republic of Brazil), and Minister Counselor Paola Repetto (Oriental Republic of Uruguay). The UAE delegation is led by Chief Negotiator Juma Al Kait, Assistant Undersecretary for Foreign Trade at the Ministry of Economy.
Paraguay’s Ministry of Foreign Affairs emphasized the importance of MERCOSUR having a broad network of trade agreements, particularly following the signing of the Free Trade Agreement with Singapore. It is essential to look toward strategically important emerging regions at the global level, such as the Middle East and Southeast Asia, and to include key countries like the United Arab Emirates.
The United Arab Emirates is a highly relevant trade partner for MERCOSUR and one of its principal partners in the Middle East. In this regard, there is strong potential for expanding trade between both parties. In 2023, total trade volume resulted in a positive trade balance for MERCOSUR, with exports reaching USD 3.5 billion and imports totaling USD 1.6 billion.
Paraguay’s delegation, which led MERCOSUR’s participation in this round, was headed by Chief Negotiator and Vice Minister of Economic Relations and Integration, Patricia Frutos Ruíz, accompanied by the coordinators of the technical working groups from the Ministry of Foreign Affairs, Ministry of Economy and Finance, Ministry of Industry and Commerce, Ministry of Agriculture and Livestock, National Service for Plant and Seed Quality and Health, and the National Animal Health and Quality Service.
