Mexico, Germany reach free trade agreement

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freetradegermanfront2018President Enrique Peña Nieto and the Chancellor of Germany, Angela Merkel celebrated the agreement reached this weekend between Mexico and the European Union regarding the Free Trade Agreement.

The agreement came during the Hanover Fair 2018, where the president highlighted that Mexico went from a closed and protectionist model to an open and free market to competition with 12 trade agreements that bring it closer to the economies of 46 countries.

“In Brussels, the commercial negotiation teams of Mexico and the European Union managed to close an agreement in principle for the modernization of our Free Trade Agreement between Mexico and the European Union.

“We also have confidence and optimism that we will conclude the renegotiation of the Free Trade Agreement with North America by ensuring benefits for its partners,” he said.
He also referred to the TPP 11 that was recently signed in Chile, which shows that Mexico today is one of the most integrated economies in the world.

“And thanks to this opening, Mexican exports last year added almost $410 billion, which places us thirteenth in the world.”
Before German authorities, industrialists, businessmen and exhibitors, the president explained the favorable conditions that Mexico provides to investors, such as the legal order, qualified labor and infrastructure.

“In a little over five years, we Mexicans have made our country a new platform for production and development,” he said.
Angela Merkel emphasized that Mexico is the first commercial partner of Latin America with a market committed to globalization.

“Of course now the technical work should be done, but I think it is very good news for Europe, for Germany and for Mexico,” she said.
During the event, a show based on Mexican culture was presented on the occasion of Mexico’s participation as a partner country in the trade fair.

Source: Mexico News Today