Language selection

Government of Canada Government of Canada

Search

Background and additional links

This page serves as a toolkit for Canadians interested in learning more about MERCOSUR and Canada’s ongoing engagement.

Background

In 2011-12, Canada undertook exploratory meetings with MERCOSUR which did not result in a decision at that time to move forward with the launch of formal negotiations.

During his trip to Argentina in November 2016, Prime Minister Trudeau committed to maintaining an ongoing dialogue on deepening the Canada-MERCOSUR trade and investment relationship. In recent months, Canada and MERCOSUR have sought to re-assess the potential for an economically significant and mutually beneficial FTA.

MERCOSUR, also known as the Southern Cone Common Market, is a customs union established by Argentina, Brazil, Paraguay and Uruguay in 1991. This regional bloc represents a significant economic presence in Latin America. In 2016, the four members of MERCOSUR had a combined GDP of US$2.4 trillion (CAD$3.2 trillion) and a population of 260 million.

In 2016, Canada’s bilateral merchandise trade with the bloc totalled nearly $8.1 billion. Canadian Direct Investment Abroad (CDIA) in the bloc was valued at $14.7 billion and the bloc’s total inward FDI stock is valued at $19.7 billion. Two-way services trade between Canada and MERCOSUR’s Argentina and Brazil nearly reached $1.3 billion in 2015.

Canada has Foreign Investment Promotion and Protection Agreements with Argentina (1993) and Uruguay (1999). Canada and Brazil have signed a bilateral Air Transport Agreement (2011), a Social Security Agreement (2008), and a Science and Technology Cooperation Agreement (2011).

Additional information on Canada’s relationship with the MERCOSUR countries

Date Modified: