Mexico Prepares Three New Ftas Part South Korea

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Currently mexico has a network of 14 free trade agreements (fta) involving 50 countries, 30 agreements for the promotion and reciprocal protection of investments (appri) and 9 economic complementation agreements. Our country has free trade agreements that link it in a privileged way in north america, latin america, europe and asia. This work of global trade integration has been strengthened over time, from the first attempts to reach agreements with latin american nations in the mid-20th century, through the formation of integration with north america in 1990. However, this commercial opening has not reached the diversity and dynamism that was expected, since in reality the international trade of our country, especially in the last two decades, has been concentrated in a few destinations, to the detriment of other regions.

Commercial expansion but concentrated in this sense, mexico's most important trading partners are: the united states, canada, japan, and germany. Among the main export products are: food and beverages, tobacco, chemical products, iron, steel, minerals, oil, textiles, clothing, automobiles, and parts and electronic products. The problem is that only Industry Email List the us accounts for more than 80% of product exports and with the rest of the countries trade is barely around 20%, as this graph from anierm shows . Given this scenario, it is essential for our country to boost its trade with other nations and establish agreements with more countries. In this order of ideas, the ministry of foreign affairs has been working on establishing new trade agreements for several years.



The most advanced are those that are being developed with south korea, where the foreign minister has paid a visit in recent days; with the united kingdom, due to its departure from the european union and with ecuador, where the most recent round of negotiations was in may of this year. For reasons of space, we will first talk about the possible agreement with south korea, and we will address the other countries separately. Objectives of a free trade agreement broadly speaking, the main objectives of a free trade agreement are: establish a free trade zone to intensify trade and the economy through the liberalization of taxes and restrictions on imports originating in the countries eliminate obstacles to trade and facilitate the cross-border movement of goods and services.