India and the MERCOSUR bloc have signed the First Additional Protocol to their Preferential Trade Agreement (PTA) to formally accept electronic Certificates of Origin (CoOs), promoting paperless trade. The protocol modifies Article 16 of Annex III (Rules of Origin) within the existing PTA.
It is to be noted that the foundational India-MERCOSUR PTA was signed in 2004 and entered into force in 2009. Under this agreement, India extends tariff concessions on 450 tariff lines, while the MERCOSUR countries (comprising Argentina, Brazil, Paraguay, Uruguay, and Bolivia) offer concessions on 452 lines.