Canada and MERCOSUR (Argentina, Brazil, Paraguay and Uruguay) signed a Trade and Investment Cooperation Arrangement and Action Plan on 16 June 1998.

In November 2004, at a meeting between the Brazilian President and the Prime Minister of Canada, a Joint Declaration was issues including a commitment to promote MERCOSUR-Canada trade relations by "negotiating enhanced market access in the areas of goods, services and investment, in the context of the creation of a future Free Trade Area of the Americas (FTAA)." In February 2005 MERCOSUR and Canada held preliminary discussions at the first meeting of the Canada-MERCSOUR trade and investment dialogue.

On 24 June 2010, In Asunción, Paraguay, Canada and MERCOSUR decided to move forward with exploratory discussions to strengthen their trade relationship.

Documents relating to the negotiations
24 June 2011	Canada and MERCOSUR move forward with exploratory conversations to strengthen their trade relationship
27-28 September 2005	Third meeting of Canada-MERCOSUR trade and investment dialogue
08 February 2005	Ottawa: Joint communiqué on the launch of the MERCOSUR-Canada dialogue on trade and investment
22-23 November 2004	Joint Declaration
16 June 1998	Trade And Investment Cooperation Arrangement and Action Plan between Canada and the Mercosur
Source: Foreign Affairs and International Trade Canada; Subsecretaría de Política y Gestión Comercial, Argentina; Ministerio de Relaciones Exteriores, Paraguay

• Canadian Foundation for the Americas (FOCAL)
• Foreign Affairs and International Trade Canada
• Ministerio de Relaciones Exteriores, Paraguay
• Subsecretaría de Política y Gestión Comercial, Argentina
• The Privy Council Office website, Canada