- The CP-TPP creates the third most important commercial bloc in the world. It is a market of 500 million consumers representing more than 13 percent of the global Gross Domestic Product, he said.
- As a result of this agreement, 90 percent of Mexican products will have immediate access, that is, without having to pay tariffs, to the markets of the 10 partner countries, he explained.
- The updating of the Free Trade Agreement between the European Union and Mexico will increase the number of products that can be freely traded, especially in agri-food, and will protect the brands and appellations of origin of a variety of products, he said.
- “Liberalizing our economy attracts investment that creates well paid jobs, which is possible thanks to free trade agreements,” he declared.
- ESH held a press conference with Secretary of Economy Ildefonso Guajardo Villarreal.
At a joint press conference with Secretary of Economy, Ildefonso Guajardo Villarreal, General Coordinator of Social Communication of the President's Office and Government Spokesman Eduardo Sánchez Hernández declared that the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CP -TPP) and the renegotiation of the Free Trade Agreement between the European Union and Mexico (TLCUEM) “usher in a new era in the creation of productive jobs and the attraction of investment in our country”.
With this sweeping modernization of Mexico’s commercial landscape, the government is supporting business, employment and investment opportunities for the benefit of Mexicans from all regions, occupations and income levels.
“The CP-TPP opens up new supply and market opportunities for the Mexican productive sector in Asia-Pacific, one of the most economically dynamic regions in the world”.
This is achieved, he said, through the fact that Mexico gained access to six new markets: Australia, Brunei Darussalam, Malaysia, New Zealand, Singapore and Vietnam. Mexico also consolidated its position in markets in which it already had a presence such as Canada, Chile and Peru, and of course, expanded its access to the Japanese market”.
He declared that, “As a result of this agreement, 90 percent of Mexican products will have immediate access, that is, without having to pay tariffs, to the markets of the 10 partner countries, whereby, for example, egg producers in Jalisco or orange producers in Veracruz will be able to trade their merchandise in what has been defined as one of the largest free trade areas in the world”.
As a result of the senate’s approval of the CP-TPP on Tuesday, April 24, Mexico became the first of the 11 member countries in this agreement to ratify it. “Once this Treaty comes into effect, Mexico will have 13 free trade agreements with 52 countries around the world”.
"The CP-TPP created the third most important commercial bloc in the world. This is a market of 500 million consumers representing more than 13 percent of the world’s Gross Domestic Product,” he declared.
Eduardo Sánchez declared that the passage of the FTAEUM, in July 2000, the first free trade agreement between Europe and a country in the American continent, has enhanced the growth of trade and investment flows between Mexico and the European Union. ”During its first 15 years, for example, trade between Mexico and the European Union grew 235 percent”.
After a complex negotiation process that began in 2016, on April 21, the Mexican negotiation team concluded an agreement in principle with its counterparts in the European Union for the modernization of the FTAEUM. ESH explained that the updating of this agreement, “Will enhance the visible advantages this instrument has had since it was launched in 2000”.
“For example, the Treaty now contemplates the creation of a tribunal to resolve disputes that arise over investments, which greatly benefits our country by providing certainty for European capitals invested in Mexico,” he added.
He explained that it incorporates new provisions for sectors modernized by structural reforms, such as the telecommunications and financial reforms, as well as markets that did not exist in the original agreement. Likewise, the Mexican and European Union delegations established new provisions for the issues of fighting corruption and transparency.
He said that the agreement in principle, concluded a few days ago, achieved the following results:
First: the number of products that can be freely traded will increase, especially in the agri-food sector.
Second: the brands and denominations of origin of a great variety of products will be protected.
And third: two chapters that reflect the current world economic reality have been updated: one on small and medium enterprises, and another one on sustainable development”.
Stating that Mexico has one of the most open economies in the world, ESH reported that, “According to official figures, thanks to its free trade agreements, our country has access to the markets of the countries that produce 60 percent of global wealth. The activities related to the export and import of goods and services represent 65 percent of the national Gross Domestic Product”.
He declared that, “Liberalizing our economy attracts investment that creates well paid jobs, which is possible thanks to free trade agreements”. He concluded by saying, “Our country is now a leading player in the growing global economic integration”.