Mexico aims to unify trade accords with Central America
Mexico aims to unify its three existing trade accords with Central America, Eduardo Sojo, the Mexican economy minister, announced.
Tuesday, July 1, 2008
Mexico has long-standing free trade accords with Nicaragua and Costa Rica, as well as a third – with Guatemala, Honduras and El Salvador – that dates from 2001.
The governments will begin negotiations to create a single regional agreement with Mexico which would be ready by 2010.
Starting from July 1 the trade agreement with Mexico, a country with which trade reaches $10 billion per year, came into effect.
The current $550 million from the annual sales of Guatemalan products and services to Mexico could double with the entry into operation of the unified FTA between that country and the Central Americans.
Central American countries will be able to access the Regional Integration Committee of Supplies, to supply raw materials for the development of Mexican goods, especially textiles.
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