(MENAFN- Gulf Times) Latin America's Mercosur trade bloc countries formally launched negotiations on a free trade deal with Canada on Friday.
Paraguay's Foreign Minister Eladio Loizaga said the first meeting would take place in Ottawa, Canada on March 20-23.
In a joint statement, ministers said they were aiming to conclude a 'Canada-Mercosur Global Trade Agreement with a 'shared commitment to trade liberalization and opening markets.
The talks with Canada, represented by Trade Minister Francois-Philippe Champagne, will cover access to goods and services markets, employment, environmental issues and small and medium-sized businesses.
Argentine Foreign Minister Jorge Faurie said the two sides hoped to sign a free trade agreement before the end of the year.
'I think that this will be quicker than the negotiations with the European Union, said Faurie.
The South American bloc — made up of Argentina, Brazil, Paraguay and Uruguay — has been engaged for more than two decades in talks with the European Union, which are moving towards a conclusion but have slowed over the reluctance to European farmers to accept imports of South American beef.
EU and Mercosur officials said last week they would extend their talks on a trade deal by a couple of weeks to resolve 'four or five outstanding issues.
'The last details are the heaviest, the most complicated ones, the Argentine minister said.
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