Jakarta (ANTARA) – Indonesia and Brazil are weighing a preferential trade agreement as a first step toward deeper ties, widening market access between Southeast Asia and Latin America, Indonesia’s trade minister said.Trade Minister Budi Santoso discussed the proposal with Brazil’s Minister of Development, Industry, Trade and Services, Márcio Fernando Elias Rosa, in Jaipur, India, on Aug. 7.“We hope Brazil can help build consensus among Mercosur members and advance negotiations for the Indonesia-Mercosur PTA,” Santoso said Sunday.Indonesia proposed the PTA after negotiations on a broader Indonesia-Mercosur Comprehensive Economic Partnership Agreement made little progress. Mercosur comprises Brazil, Argentina, Paraguay, Uruguay and Bolivia.Santoso said differences among Mercosur members, including views over trade cooperation with Indonesia, have affected negotiations for the broader agreement.He said deeper trade between Indonesia and Brazil could unlock greater market access across their regions, creating opportunities for companies to expand exports.Brazil could serve as a gateway for Indonesian goods into Latin America, while Indonesia could provide Brazilian exporters access to Asian markets, Santoso said.“Trade cooperation between Indonesia and Brazil benefits both nations and opens broader access to their respective regions,” he said.Elias Rosa welcomed Indonesia’s proposal and expressed openness to further discussions on Indonesia-Mercosur cooperation. Brazil will study the proposal.Two-way trade between Indonesia and Brazil reached US$3.53 billion in the first six months of 2026, with Indonesian exports totaling US$1.17 billion, the Trade Ministry said.For 2025, bilateral trade totaled US$7 billion, while Indonesia’s exports to Brazil amounted to US$2.21 billion, the ministry said.Indonesia’s main exports to Brazil include animal and vegetable fats and oils, vehicles and parts, electrical machinery, rubber products and mineral fuels.Brazil’s main exports to Indonesia include food-industry residues and waste, sugar and confectionery, cotton, tobacco, metal ores, slag and ash.The proposed PTA could provide a pragmatic route toward closer commercial ties while broader negotiations remain stalled.For Indonesia, stronger ties with Brazil could diversify export markets, while Brazilian companies could gain wider access to Southeast Asia.