Conclusion of the Second Round of Negotiations for the expansion and deepening of the Brazil-Mexico Economic Complementation Agreement (ACE-53) – Brasilia, February 18, 2016

The second round of negotiations Brazil-Mexico for the expansion and deepening of the Economic Complementation Agreement No. 53 (ACE-53), held between February 16 and 18, was concluded today, in Brasilia.

Representatives of the two countries highlighted the importance of deepening trade and investment relations between the two largest economies of Latin America and the Caribbean, in compliance with the mandate established by Presidents Dilma Rousseff  and Enrique Peña Nieto during the State Visit of the Brazilian Head of State to Mexico, in May 2015. The negotiators also highlighted the commitment of both parties to a frank, open and constructive dialogue, in order to facilitate the discussions and contribute to an ample agreement, for the benefit of the productive sector of both countries.

Progress was made in the discussions about market access and rules of origin, as well as in negotiating the text on Trade, Services and Investment Facilitation; Sanitary and Phytosanitary Measures; Government Procurement; Technical Barriers to Trade; Intellectual Property; Regulatory Coherence and, especially, on the chapters on Competition Policy and Trade Protection.

Negotiations moved forward in what will allow the mutual recognition of Cachaça and Tequila as Geographical Indication and Distinctive Products from Brazil and Mexico, respectively.

Mexico is a key partner for Brazil in Latin America and the Caribbean, with bilateral commercial exchanges of around US$ 8 billion in 2015.