In compliance with the mandate of the President of the Mexican Republic, Enrique Peña Nieto, and the President of the Republic of Brazil, Dilma Rousseff, on May 26; 7 and July 8, 2015, the First Round of Negotiations of the Economic Complementation Agreement, Number 53 (ACE 53) is held between the United Mexican States and the Republic of Brazil, in Brasilia.
The delegations were headed by the Undersecretary of Foreign Trade, Francisco de Rosenzweig, and the Head of the Unit for International Negotiations, Rosaura Castañeeda, from Mexico; Daniel Godinho, Secretary of Foreign Trade, and Ambassador Antonio José Ferreira Simões, General Secretary of Central America and the Caribbean, both by Brazil.
The Economic Complementation Agreement No. 53 grants preferences to 12% of tariff lines, so that the two largest economies in Latin America agreed that there is enough space for the expansion of trade.
The negotiating teams of Brazil and Mexico, in order to advance strongly in the presidential commitment, agreed the trade negotiation parameters.
The disciplines for which has been discussed are: Market Access, Rules of Origin and Trade Facilitation; Rules of International Trade (Technical Barries to Trade TBT, Regulatory Consistency, Sanitary and PhytoSanitary Measures, competition policy, intellectual property, government procurement); Services and investment, and dispute settlement.
Currently, the trade between Brazil and Mexico was just over nine billion dollars, of which over 40% is explained by the trade of the automotive sector (about 4 billion dollars). Brazil is the main trading partner for Mexico in Latin America, while Mexico is the second to Brazil.
The Second Round of Negotiations for the expansion of the ACE No. 53 will take place in Mexico City in October 2015.