Trade Agreement Brazil Mexico
The two countries are also important trading partners: in 2018, trade flows reached $9.41 billion, including $4.51 billion in Brazilian exports and $4.90 billion in Mexican exports. At their peak, over the 2012-2013 period, bilateral exchanges reached $10 billion. After positive signs of the Brazilian economy and continued Mexican growth, bilateral trade is showing signs of marked recovery. On July 3, 2002, Brazil and Mexico signed The Economic Supplement Agreement No. 53 (known as ACE 53). Two days later, Mexico and the MERCOSUR member countries – of which Brazil is a member – signed Economic Complementarity Agreement 54 (ECA 54) to create a free trade area. Mexico`s high-level free trade agreements are bilateral (two country partnerships) and multilateral (three or more) and include NAFTA, the EU, Japan, the Pacific Alliance (G3) and Central America. As trade develops between nations, renegotiation or withdrawal of certain conditions is commonplace. Many of Mexico`s most important free trade agreements have been revised, renegotiated and withdrawn, creating a stronger and more beneficial agreement for all partner countries. In 2015, Mexico exported $23 billion worth of goods and services. In particular, exports to Germany reached $6.83 billion in the same year, making it Mexico`s fourth largest export destination and second largest free trade region.
Germany, along with Mexico, was one of the major G20 economies, which insisted on improving trade and diplomatic relations. With a total of 14 Mexican free trade agreements in more than 50 countries, the country has access to more than 60% of the world`s gross domestic product. More broadly, it is not surprising that Mexico`s top ten trading partners receive exports under the terms of thought of at least one of the country`s free trade agreements without China. Mexico and MERCOSUR sign trade agreements (Economic Supplement Agreement 54) Argentina: note C.R. 172/02 of 17 December 2002 – Decree 415/92 (CR/di 1528). Brazil: Note No. 201 of 08 November 2002 – Decree 4.458 of 06 November 2002 (CR/di 1514). México: Note 286/02 of 19 December 2002 (CR/di1550) and note 1/03 of 3 January 2003, which accompanies the agreement published in the Official Journal of 31 December 2002 (CR/di 1542). Uruguay: Note 893/02 of 17 December 2002 – Decree 663/05 of 27 November 1985 (CR/di 1533). Mexico has been trying to diversify its trading partners since U.S. President Donald Trump warned of the possible death of the North American Free Trade Agreement (NAFTA), which has supported Mexico`s foreign trade for a quarter of a century. MEXICO CITY – The Mexican government said Tuesday it has reached an agreement with Brazil on the free trade of light vehicles, subject to a 40 percent regional content requirement and paving the way for more open trade between Latin America`s two largest economies.