Mexico.- The Ministry of Economy (SE) emphasized that the Mexican government’s objective is to finalize the negotiations of the Free Trade Agreement with Ecuador within the first half of this 2022.
Meanwhile, the federal agency headed by Secretary Tatiana Clouthier Carrillo stated that it is intended to finalize the negotiations of the agreement with South Korea for the abolition of tariffs of up to 800% faced by agricultural products grown in the Mexican Republic that are imported by the South Korean territory.
During her participation in the Foreign Trade Forum, organized by Thomson Reuters and Baker Tilly, the Undersecretary of Foreign Trade of the Ministry of Economy, Luz Maria de la Moraannounced that, at the moment, it is working with new business partners.
At the same time, he pointed out, the Mexican government is seeking to expand the commercial agreements it already has with some countries around the world in order to reach more than 406 million consumers and have a much more open national market.
In this framework, de la Mora explained that negotiations for an FTA began with the Ecuadorian government during the current six-year term, as part of a strategy of rapprochement with the countries that make up Latin America.
“We are close, we hope, to concluding this negotiation. The ninth round would be the week of May 23 in the city of Quito, we will have the accompaniment of the next room and the idea is that we can conclude in this semester to be able to proceed with the internal legal processes that would allow Ecuador and Mexico to have a treaty free trade,” he said.
Regarding the intention to consolidate a trade agreement with South Korea, the SE official stated that, while the products of the Asian country enter Mexico practically without tariffsThe opposite happens with Mexican articles when they enter South Korean territory.
“Products from South Korea enter Mexico practically without tariffs, and this is not the case for Mexican products. Mexican products face an average tariff of 8 percent for industrial products and products from the agricultural sector can face tariffs of up to 800 percent. And only 20 percent of the products that Mexico sends to South Korea enter duty-free. So we want to reduce this disparity and put ourselves in equal tariff conditions, and balance the trade relationship, ”he explained.
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Luz María de la Mora pointed out that being South Korea is Mexico’s third trade partneras well as occupying the fifth place in the destination of exports made by the Mexican Republic, it is of great relevance to reach the conclusion of the FTA between the American and Asian countries.
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