61797
Mexico Says New EU Trade Deal Paramount
World Economy

Mexico Says New EU Trade Deal Paramount

A new free trade agreement with the European Union is of “paramount” importance for Mexico and both parties aim to conclude a deal this year, Mexico’s deputy economy minister has said.
Mexico and the 28-nation bloc are holding a third round of negotiations this week to upgrade an existing accord dating from 2000 that principally just cut tariffs on industrial goods, Reuters reported.
“It’s paramount. Right now there’s no other issue, no other negotiation on top of the trade agenda for Mexico but this one,” Juan Carlos Baker, deputy minister for foreign trade, told Reuters in Brussels late on Monday.
The two parties agreed in 2015 to modernize their trade relations and held two rounds of talks last year. The election of US President Donald Trump has reinforced Mexico’s need to reduce its reliance on the US imports and exports.
Trump has pledged to renegotiate the 23-year-old North American Free Trade Agreement and Mexicans face the possibility of higher US import duties.
“The present circumstances I suppose only make it even more necessary,” Baker said of an EU deal, adding he had not started any negotiations with the United States or Canada regarding NAFTA.
With EU-US trade talks frozen, the European Union has turned its focus to sealing deals with three other partners—Japan, Mercosur and Mexico.
Brussels is particularly keen on scoring successes on the trade front to show it is moving on from Britain’s planned exit from the bloc and to prove it is a champion of free trade to counter Trump’s protectionist stance.
Baker said there was reason for optimism that a deal could be struck this year.

Short URL : https://goo.gl/K2UpWP
  1. https://goo.gl/QiQzJy
  • https://goo.gl/5cxY44
  • https://goo.gl/vnMVSW
  • https://goo.gl/NXS2Wl
  • https://goo.gl/WcZI0Z

You can also read ...

Philippines Rating Upgraded
Fitch Ratings on Monday upgraded Philippines’ credit rating to...
Beijing’s growing determination to curb debt-financed growth has already triggered a sharp sell-off in China’s government bond market and is fuelling concerns that the economy will slow, thus crimping global demand for commodities.
Inflows into emerging market bond and equity funds have been...
UNDP Says BRI Can Create Sustainable Growth
The Belt and Road Initiative has tremendous potential for...
Hackers Hit Major ATM Network
A previously undetected group of Russian-language hackers...
Diverse Views Fuel Bleak Prospects for WTO Meeting
The World Trade Organization’s Buenos Aires meeting commenced...
Will Cryptocurrencies Replace Dollar in Oil Trade?
The gradual acceptance of digital currencies, with major...
Base metals remain vulnerable to market factors.
The market for base metals is projected to grow at a robust...
Cboe tweeted that nearly 1,000 contract trades had been placed after two hours of initial trading.
Bitcoin has landed on Wall Street with a bang. Futures on the...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus