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Our Bureau

New Delhi, June 4

India–MERCOSUR preferential trade agreement (PTA) has come into effect from June 1.

The major product groups covered in the offer are food preparations, organic chemicals, pharmaceuticals, essential oils, plastics, rubber and rubber products, tools and implements, machinery items, electrical machinery and equipment.

An official release said that the major sectors covered in offer list of India are meat and meat products, inorganic chemicals, organic chemicals, dyes and pigments, raw hides and skins, leather articles, wool, cotton yarn, glass and glassware, articles of iron and steel, machinery items, electrical machinery and equipment, optical, photographic and cinematographic apparatus.

MERCOSUR is a trading bloc in South America region comprising Argentina, Brazil, Paraguay and Uruguay.

It was formed in 1991 with the objective of free movement of goods, services, capital and people and became a customs union in January 1995.

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