General Coordinator of Social Communication of the President’s Office and Government Spokesman Eduardo Sánchez Hernández today held a press conference with Secretary of Economy Ildefonso Guajardo Villarreal, during which he declared that the Comprehensive and Progressive Agreement for Transpacific Partnership (CPTPP), of which Mexico is a signatory, is undoubtedly a fundamental part of the legacy of the government of President Enrique Peña Nieto in commercial matters.

Benefits of the Agreement

This instrument will expand trade in key sectors for economic growth such as the agroindustrial, automotive, electrical, pharmaceutical and textile sectors.

As established in the Mexican Political Constitution , it is now necessary to advance the legislative process for the early entry into force of the CPTPP.

  • President Enrique Peña Nieto will submit the texts of the Agreement to the Senate for their analysis and eventual approval.

Since the beginning of the Administration, policies and programs have been implemented to increase the worldwide presence of Mexican goods, services and talent.

The signing of the CPTPP creates the largest free trade zone in the world and the third most important commercial bloc.

  • With the participation of Australia, Brunei, Canada, Chile, Malaysia, Japan, New Zealand, Peru, Singapore, Vietnam and, of course, Mexico, it creates a market of 500 million consumers.
  • “The economies of these nations represent 13.5 percent of the world’s Gross Domestic Product, providing an unprecedented window of opportunity for all the countries that have signed this Agreement.
  • In 2015, Mexico was already one of the countries with the most free trade in the world, with 12 Agreements covering 46 countries.
  • “As  a result of this new agreement, Mexico will be able to trade freely with 52 countries for the benefit of consumers and Mexican companies, which will have more opportunities to export their products.
  • This agreement,  “Confirms the confidence in Mexico to continue attracting investments that generate well-paid jobs for Mexican families”.

“According to an estimate by the Peterson Institute for International Economics, one of the world’s leading economic think tanks, Mexico’s participation in this Agreement could raise the Gross Domestic Product of our country by 1 percentage point by 2030": ESH