The two nations have signed a number of agreements, such as. B an agreement on the promotion and protection of foreign investment (1999); Convention on Social Security (2002); audiovisual co-production agreement (2005); Air Services Agreement (2012) and Tax Information Exchange Agreement (2014).  Canada negotiates bilateral free trade agreements with the following countries and trading blocs: On June 24, 2011, Paraguay, Canada and MERCOSUR in Asuncion, Paraguay, Canada and Mercosur agreed to begin exploratory talks to strengthen their trade relations. Two exploratory interviews have already taken place and a third is scheduled in Ottawa, Canada, in May 2012. On February 23, 2018, Canada announced the positive conclusion of exploratory discussions on a comprehensive free trade agreement with MERCOSUR. On March 9, 2018, Canada and MERCOSUR agreed to begin negotiations for a comprehensive free trade agreement between Canada and MERCOSUR. Canada is currently conducting exploratory discussions on bilateral or multilateral free trade agreements with the following countries and trading blocs, although formal negotiations have not yet begun: On April 12, 2017, Canada and MERCOSUR held a technical working meeting to reactivate discussions on a possible trade agreement between the two parties. On July 24, 2017, delegations from Canada and Mercosur held a technical meeting to discuss a possible trade agreement. Nevertheless, in January 2007, Uruguay signed a Framework Agreement on Trade and Investment (TIFA) with the United States.
Many observers saw it as a first step towards signing a free trade agreement. The official languages are Spanish and Portuguese. MERCOUSR is the world`s fifth largest economy. The area of the territory is 14,869,775 km2 and it has a total population of about 295,007,000. Since its inception, its primary objective has been to promote investment and trade between its Member States and to integrate the local economy into the international market and international supply chains. Canada is currently negotiating a free trade agreement with Mercosur, a trade bloc and a customs union between Argentina, Brazil, Paraguay and Uruguay. Mercosur as a bloc represents a GDP of more than $3 trillion and a population of 261 million in 2019. The other objectives of MERCOSUR are the cultural and social integration of the different communities living in the different countries of the bloc. To achieve these goals, MERCOSUR countries have extended the free movement of all local citizens, so that they can only travel with an identity card.
In addition, all Member States recognise, within the framework of the Integrated Protocol on Education, the primary and secondary education certificates of other MERCOSUR countries, with the aim of enabling all citizens to complete their studies in each Member State. Canada is regularly referred to as a trading nation, with total trade accounting for more than two-thirds of its GDP (the second highest level in the G7 after Germany).   Of all of this trade, approximately 75% are wiretapped with countries that are part of free trade agreements with Canada, particularly with the United States through the North American Free Trade Agreement (NAFTA).  At the end of 2014, bilateral trade in Canada reached $1 trillion for the first time.  The potential benefits of a canada-Mercosur free trade agreement for key Canadian sectors.