Mexico Aims to Export Trucks to EU through Mutual Recognition Agreement

Strategic Insights -

The Mexican government has expressed willingness to negotiate a Mutual Recognition Agreement (MRA) with the European Union to facilitate the export of trucks. This move comes on the heels of a successful year for Mexico's truck exports, with revenues reaching $6.6 billion, of which 97.5% were sent to the United States. However, due to technical regulations, Mexico is currently unable to export trucks to the EU.

The negotiation of an MRA will allow Mexico to compete in the EU market, potentially leading to increased trade and economic growth. The Mexican government has stated that any changes to the bi-regional trade pact will be carried out in compliance with the World Trade Organization (WTO) and commitments defined in the original Mexico-EU Free Trade Agreement (FTA).

Key Takeaways:

  • The Mexican government is willing to negotiate a Mutual Recognition Agreement (MRA) with the European Union to export trucks.
  • Mexico exported $6.6 billion in trucks last year, of which 97.5% were sent to the United States.
  • The negotiation of an MRA will allow Mexico to compete in the EU market, potentially leading to increased trade and economic growth.
  • The Mexican government has stated that it will carry out any changes to the bi-regional trade pact in compliance with the World Trade Organization (WTO) and commitments defined in the original Mexico-EU Free Trade Agreement (FTA).
  • The EU is expected to examine clauses dealing with agriculture, services, and investment to reach agreements that will allow for greater liberalization in respective markets.
  • Internet Securities, Inc. provided the translation of the original article, and any inaccuracies or omissions are the responsibility of the company.

Statistics:

  • Mexico exported $6.6 billion in trucks last year.
  • 97.5% of Mexico's truck exports went to the United States last year.

Sources:

  • El Economista
  • Corporate Mexico by Internet Securities, Inc.
  • COMTEX
  • World Trade Organization (WTO)
  • Mexico-EU Free Trade Agreement (FTA)