Israel concluded its first round of talks toward a free trade agreement with the Mercosur trade block (Mercado Comu'n del Sur), incorporating Brazil, Argentina, Uruguay and Paraguay, the Industry Trade and Labor Ministry said Sunday. Talks focused on the content of a future trade agreement and a preliminary schedule for its completion, as well as regulatory structures and import regimes.
Removing the present 11-percent average import duty on Israeli goods coming into Mercosur would "significantly contribute to Israeli exports to Latin America," said ministry director-general Raanan Dinor.
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