Sao Paulo [Brazil], March 26 (ANI): The Brazilian government, in coordination with Mercosur countries, has initiated new trade negotiations with key partners, including India and the United Arab Emirates, aiming to diversify export markets following progress on its agreement with the European Union.

The development was outlined by Tatiana Prazeres, Secretary of Foreign Trade at Brazil's Ministry of Development, Industry, Trade and Services, during an interaction with the media ahead of a panel discussion at an event in Brasilia. She indicated that the anticipated implementation of the EU agreement would create momentum for expanding trade engagements with other global partners.

Prazeres noted that negotiations are already underway to broaden the existing Mercosur-India agreement, while fresh discussions with the UAE are being pursued. These initiatives are part of a broader strategy to deepen Mercosur's global integration, enhance export opportunities and reduce reliance on traditional markets. Emerging economies such as India and the UAE are seen as promising destinations due to their strong economic growth, consumption potential and investment opportunities, as per the reports of Brasil 247.

At the same time, Brazil remains cautious about its trade outlook with the United States. Prazeres highlighted continued uncertainty surrounding American tariff policies, describing them as volatile and difficult to predict. Currently, Brazilian exports face average tariffs of around 10 per cent in the US market, with higher duties imposed on sectors such as steel under Section 232 provisions.

While the situation marks an improvement from the previous year, when tariffs surged significantly, officials emphasised the importance of sustained dialogue with Washington. Prazeres underscored that maintaining engagement is essential in navigating an increasingly fluid and unpredictable global trade environment. (ANI)