Last July 10, 2015, the Secretary of Economy, Ildefonso Guajardo Villarreal, was visited by the US Trade Representative Michael Froman, in order to check the remaining issues of the negotiation of the Trans-Pacific Partnership Agreement (TPP) and analyze the steps to achieve the objective of concluding the negotiations this year.
During the meeting, both officials stressed the importance of finding balances and convergences in the negotiations of the Agreement, and thereby fulfill the mandate of the leaders of the TPP member countries to conclude the Agreement as soon as possible.
The United States and Mexico have progressed considerably, reaching agreements on outstanding bilateral issues. The next ministerial meeting, to be held from 28 to July 31, 2015, represents an important opportunity to agree on outstanding issues in the negotiations.
The TPP will allow North America to consolidate itself as a platform for exports to the Asia-Pacific region (one of the most economically dynamic regions) and the world, while contributing to making North America the most competitive region.
For Mexico, the TPP will allow to diversify their exports with a preferential access to new markets. Currently, the TPP has 12 members: Australia, Brunei Darussalam, Canada, Chile, United States, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
In 2014, the 12 countries of the TPP accounted for 38% of the total Gross Domestic Product; 23.8% of world exports; 28% of world imports; and 11% of the world population.