Expanded commercial agreement between Brazil and Mexico – Mexico City, May 26, 2015

In order to boost the economic and trade relationship between the two largest economies in Latin America, Brazil and Mexico decided to prioritize the expansion and deepening of the Economic Complementation Agreement no. 53 (ACE-53) with a view to widening market access for a substantial volume of bilateral trade, given that both countries have commercial agreements that help in important ways to increase the two-way flow of trade.

The deepening of the ACE-53 will be achieved both through the significant expansion of tariff preferences under the agreement, including for new agricultural and industrial goods, and through the deepening of the preference levels already granted between the two countries, seeking as far as possible, the complete  liberalization trade between the Parties.

As part of the deepening of the ACE-53, in addition to the signing of the Agreement on Cooperation and Facilitation of Investments, Brazil and Mexico have also decided to negotiate disciplines consistent with the WTO and the ALADI, which, case by case can deepen them with regard to services, electronic commerce, government procurement, trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, intellectual property, regulatory coherence, and other areas of interest. Competent authorities on both sides will initiate dialogue in order to obtain mutual recognition of their Authorized Economic Operator programs.

Negotiations, launched during the visit of President Dilma Rousseff to Mexico, will be conducted by a binational group composed of members of both governments, who will work in coordination with their countries’ productive sectors. The teams will be instructed to meet no later than the first week of July so as to conclude negotiations as soon as possible.