Brazil and Mexico exchanged list of requests and offers to extend agreement

Brazil and Mexico exchanged reciprocal lists of requests and offers to extend the Economic Complementation Agreement (ACE) 53, as it was arranged by the presidents Dilma Rousseff and Enrique Peña Nieto, the Brazilian Government announced today. The Brazilian Foreign Ministry said on Saturday in a statement that the exchange of lists of commercial goods took place Friday and orders and offerings include “items of interest, whether industrial or agricultural”.

The lists will be evaluated by the technical teams of both countries will be discussed at the next negotiating meeting scheduled between 16 and 18 February in Brasilia. “The two largest economies in Latin America seek a substantial increase in the liberalized tariff universe”, said the statement, in which he stressed that the “dimension” of the two countries requires “an expansion of tariff preferences”. The exchange list “represents a significant step and integrates bilateral negotiation agenda includes a wide range of issues”, the Foreign Ministry. The sectors of services, electronic commerce, government procurement, sanitary and phytosanitary measures, technical barriers to trade, intellectual property, regulatory coherence, among other topics, are addressed by the negotiators.

The expanded 53 ACE seeks to exploit the “great growth potential” in two countries whose trade does not exceed 2% of their trade abroad in 2012-2014. From January to November this year, Mexico was the eighth destination for Brazilian exports and the ninth of origin of imports in a current of 7.440 million. Last year bilateral trade reached 9.030 billion.

Source: MéxicoXport