Mercosur summit kicks off in Paraguay

68th Mercosur Summit kicks off in Paraguay on Tuesday to boost trade ties and expand global partnerships. The summit also coincided with the 35th anniversary of the Treaty of Asuncion , which established the South American Trade Bloc in 1991.

Mercosur is the regional trade bloc—made up of Argentina, Bolivia, Brazil, Paraguay, and Uruguay. Mercosur officially announced the start of trade negotiations with Japan to diversify its economic alliances. The bloc also held talks and business meetings to expand trade with Canada, India, Viet Nam, and the United Arab Emirates.