Mexico City.- Mexico, whose trade exchange is concentrated with the United States, has ample opportunity to strengthen markets in both imports and exports to the south of the continent, with countries like Brazil, which is the main economy in Latin America.
Enrique González Calvillo, president of the Mexico-Brazil bilateral business committee of the Mexican Business Council for Foreign Trade (Comce), explained that although the country has concentrated its agricultural trade with the Americans since the signing of NAFTA in 1994, it is necessary to target others. sectors to strengthen trade.
“It is very important that Mexico gives importance to the opportunities that Brazil brings and can generate, and at the same time that we diversify, because 80 percent of Mexico’s exports are to the United States, that is worrying, when you only have a client,” he said. He exemplified that although Mexico does not have a Free Trade Agreement (FTA) with a country like Brazil, it is possible to reach sectoral agreements such as the automotive industry or financial services, the latter taking into account the relevance that the Brazilian banks that are gaining in banking.
“Not to stop at the traditional ones, the statistic that the third buyer of automotive products in Brazil is Mexico, and the fourth in Mexico is Brazil, that is working, but there are many other things that can be established in services not only financial , but of all types, dispute resolution.
“Also the example of integration in chemical matters, which has cost a lot of work, but integration exists,” he noted. Currently, Mexico has 12 Free Trade Agreements that include 46 countries; However, with Brazil, the ninth largest economy in the world, there is no agreement of this scope. In other cases, such as Peru, Ecuador and Argentina, relevant due to the size of their population and economy, Mexico has not agreed on an FTA either.
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