Mexico has 14 FTAs ​​and is preparing three more: Ministry of Economy

The Ministry of Economy stated that Mexico has a network of 14 Free Trade Agreements (FTA) with 50 countries and is negotiating with three other agreements, with Ecuador, the United Kingdom and South Korea.

Economy Minister Tatiana Clotheer announced that with the United Kingdom, the first round of negotiations will be held in Mexico City from July 11-15. At the same time, the country is negotiating its entry into the Comprehensive and Progressive Treaty for Trans-Pacific Partnership (TIPAT).

“We are certain that the UK’s entry into TIPAT will give additional and institutional strength to this treaty,” said Los Maria de la Mora, Under-Secretary for Foreign Trade at the Ministry of Economy.

Negotiations are underway regarding South Korea’s accession to the Pacific Alliance as an associate country. In addition, on March 1, 2022, Mexico and South Korea agreed to begin negotiating a free trade agreement.

De la Mora argued that this free trade agreement would allow “a level playing field” in terms of tariff advantages between Mexico and South Korea. De la Mora argued that 85% of the value of Mexican imports from South Korea does not pay tariffs, either because Mexico unilaterally applies zero tariffs or through programs such as IMMEX.

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