The summit brought together Macri, Brazilian President Jair Bolsonaro, Uruguay's Tabare Vazquez and Paraguay's Mario Abdo as well as the leaders of two countries associated with Mercosur
, Evo Morales from Bolivia and Sebastian Pinera from Chile.
Following an FTA with Japan that took effect in February - also the result of long, arduous negotiations - the pact with Mercosur
, an open trade and border union of Brazil, Argentina, Uruguay and Paraguay, means the EU is on track to tariff-free trade with a significant proportion of the global business community.
Pakistan has an annual bilateral trade of US$ 1 billion with Mercosur
The Ministry of Commerce is making efforts to restart negotiations on clinching preferential and free trade agreements with Mercosur
a trade bloc comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela.
"The EU has not responded to moves by Mercosur
as we had expected," he said.
'Palm is an essential commodity for Indonesia's economy and citizens, and Indonesia hopes that the tariff on palm products of MERCOSUR
member countries, including Argentina, can be lowered,' said FM Retno.
South Korea signed an agreement to launch the negotiations with four Mercosur
member states -- Brazil, Argentina, Paraguay and Uruguay -- during a ceremony held in Seoul.
The Ministry of Commerce says it recognises 'the immense trade potential' of the South American region and has taken steps to enhance trade with South American countries and Mercosur
as a bloc.
It said steps have been carried to improve trade with Mercosur
and South American countries on a whole.
The ministry said that trade exchange between Egypt and Mercosur
members is $3.3bn annually.
is an economic and political bloc comprising Argentina, Brazil, Paraguay, and Uruguay, and Venezuela.