Mercosur and Vietnam took a significant step in strengthening their trade relations by formally beginning negotiations for a Preferential Trade Agreement (PTA). This progress was confirmed with the approval of the Terms of Reference, a document that sets the framework, scope, and methodology for the negotiations and allows the start of technical rounds between the two parties.
The South American bloc negotiates jointly with Vietnam in line with its common trade policy. The agreement aims to improve market access through selective tariff reductions, promote the exchange of goods, and advance trade disciplines compatible with World Trade Organization (WTO) rules.
Official data indicate that bilateral trade between Mercosur and Vietnam has grown steadily in recent years, reinforcing mutual interest in moving toward a preferential agreement. Authorities noted that the PTA could create new opportunities for exports, strengthen value chains, and consolidate economic cooperation between South America and Southeast Asia.
