(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – The 4^th Negotiating Round of the Free Trade Agreement between Mercosur and the United Arab Emirates, which began last Tuesday (4), will conclude on Friday (7). The discussions are being conducted by technical experts from Mercosur member countries Brazil, Argentina, Paraguay, and Uruguay and from the UAE, at the headquarters of Brazil's Ministry of Foreign Affairs in Brasília. Brazil currently holds the bloc's pro tempore presidency. Meetings are being held among technical groups focused on rules of origin, trade in goods, legal and institutional matters, and services.

Mercosur and the UAE officially began negotiations for a free trade agreement in July of last year. Even before that, in 2023, there had already been expressions of interest in an agreement with the Gulf nation. If approved, the agreement between the UAE and Mercosur will be the third signed with an Arab country, following Egypt and Palestine. The third round of negotiations was concluded in November of last year.

According to data from Brazil's Ministry of Development, Industry, Trade and Services, year to date through September Brazil exported USD 2.5 billion to the UAE, a 30.2% drop compared to the same period last year. Imports totaled USD 227.9 million, down 69.9% over the same comparison. Top products exported by Brazil were poultry and sugar, while the UAE mainly exported oil and sulfur, which is used in fertilizer production.

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Translated by Guilherme Miranda

Supplied/DP World

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