- The Trade Ministers of the 12 participating countries signed the TPP in Auckland, New Zealand, completing the process of negotiations.
During the event, the Ministers expressed their satisfaction at the completion of the process of negotiations for the newest Trade Agreement because of its level of ambition, range of topics and high standards, and that will guide the international trade negotiations for the next decades.
After signing the TPP, the legislative phase for its ratification starts in each one of its economies. In the case of Mexico, it correspond to the Senate of the Republic the review and approval of the text of the Agreement.
The TPP will enter into force two years after its signature if the 12 participating countries report their ratification or, failing that, when six countries, representing 85% of Gross Domestic Product of the TPP do so.
This Agreement is a strategy of Trade and Investment articulated by Mexico in Asia-Pacific, the region that will record the highest growth over the next 25 years. With the TPP, the Mexican products will have access to six markets which had not been dealt any commercial agreement (Australia, Brunei Darussalam, Malaysia, New Zealand, Singapore and Vietnam) and that represent a market of 155 million potential consumers. The Agreement also strengthens the productive integration of Mexico with the United States and Canada, and deepens the business relationship with strategic partners such as Japan, Chile and Peru.Since joining the process of negotiating the TPP in October 2012, Mexico was accompanied by the national productive sector through the so-called "room next door" to consider its interests and sensitivities in Mexico's position during the discussions.