Canada and MERCOSUR (Argentina, Brazil, Paraguay and Uruguay)
signed a Trade and Investment Cooperation Arrangement and Action Plan on 16 June 1998.
In November 2004, at a meeting between the Brazilian President and the Prime Minister of Canada,
a Joint Declaration was issued including a commitment to promote MERCOSUR-Canada trade relations by
"negotiating enhanced market access in the areas of goods, services and investment, in the
context of the creation of a future Free Trade Area of the Americas (FTAA)." In February 2005
MERCOSUR and Canada held preliminary discussions at the first meeting of the Canada-MERCSOUR trade
and investment dialogue.
On 24 June 2011, in Asunción, Paraguay, Canada and MERCOSUR agreed to start exploratory
discussions to strengthen their trade relationship. Two exploratory meetings have already been held,
and a third is scheduled for May 2012 in Ottawa, Canada.
On April 12, 2017 Canada and MERCOSUR held a technical working meeting reactivating the talks on
a possible trade agreement between the two parties. On 24 July 2017, delegations from Canada and MERCOSUR
held a technical meeting to discuss a possible trade agreement.
On February 23, 2018 Canada announced the positive conclusion of exploratory discussions on a
comprehensive free trade agreement with MERCOSUR. On March 9, 2018 Canada and MERCOSUR agreed to launch
negotiations toward a comprehensive Canada-MERCOSUR free trade agreement.