Mexico City, Mexico — Formal negotiations have begun between Mexico’s Economy Secretary and the UK International Trade Secretary that will see a new modern Free Trade Agreement.
Mexico’s Tatiana Clouthier and the U.K.’s Anne-Marie Trevelyan met Friday in London to start negotiations on a modern agreement that will allow the two countries to take advantage of the economic opportunities of the 21st century.
The Mexico-United Kingdom Trade Continuity Agreement is being considered a historic opportunity to strengthen bilateral trade in areas of mutual interest such as agricultural goods and services.
In a press release, the Government of Mexico says rules related to investment and intellectual property will be modernized and provisions on issues related to SMEs, gender and innovation, among others, will also be included.
Both nations share views on the importance of inclusive trade, as well as the benefits that a global and open economy brings to companies and consumers.
The United Kingdom is Mexico’s 16th most important commercial partner worldwide and its 8th most important investor.
“The United Kingdom is our sixteenth trading partner in the world and our eighth source of investment. There are more than 2,000 British companies in Mexico. Our trade in 2021 amounted to $5.1 billion dollars,” Clouthier pointed out during her speech.
“Both nations share visions on the importance of inclusive trade as well as the benefits that a global and open economy brings to companies and consumers,” she added.
Negotiations will also address trade in goods and services, digital trade, cross-border data flows, e-commerce, regulatory cooperation and innovation and the modernization of rules related to investment and intellectual property.
