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In a remarkable turn of events, Petroleos Mexicanos (Pemex) has announced a surplus of $16.62 billion in its trade of crude oil, petroliferous products, petrochemicals, and natural gas between January and November. This surplus marks a year-on-year increase of 28.9%, with exports reaching $21.50 billion and imports
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Mexico's National Chamber of the Clothing Industry (CNIV) is set to collaborate with the federal government to launch a mechanism to challenge what they deem as unfair trade practices by China, specifically the dumping of Chinese textiles and clothing on the US market. The CNIV president, Tony Kuri,
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Mexico's Treasury Secretariat (SHCP) plans to reduce prices and import tariffs for key goods such as sugar, fuel oil, electricity, steel, LP gas, and cement in 2005, aiming to improve competition among companies and inflation expectations. These measures are expected to counterbalance the inflationary pressures caused by state-controlled
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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
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Mexico is carefully watching the possible creation of a free trade agreement between the Asia-Pacific Economic Cooperation (APEC) countries, following the summit in Santiago, Chile. Mexican Secretary of Economy Fernando Canales Clariond stated that for such an agreement to be successful, there are still many factors lacking, including a human,
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Mexico's national footwear industry is facing collapse due to a combination of factors, including the government's lack of support, increased imports, and unfair trade practices from China. According to Santiago Pazos, president of the National Footwear Industry Chamber (Canaical), the industry is on the verge of
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Mexico has petitioned the European Union (EU) to modify rules of origin in their Free Trade Agreement (FTA) to enable the country to export television sets to the region. The current technological gap in the agreement prevents Mexico from being a significant player in this market. The EU imports $6.
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Mexico's competitive advantage in trade with its North American Free Trade Agreement (NAFTA) partners is under threat due to forthcoming trade accords between the United States and 20 Latin American nations. Former Secretary of Trade and Industrial Promotion Herminio Blanco has warned that Mexico must speed up reforms
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Mexico's trade policies have failed to ensure economic stability and growth, despite implementing open economic and trade policies in the 1980s, stated former Foreign Affairs Minister Fernando Solana Morales. With globalization, the country needs to redefine its role in the world of trade, shifting its focus from the
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European Union officials have expressed optimism that concerns prompting an EU lawsuit in 1997 have been addressed, paving the way for a resolution to the ongoing trade dispute between the two economic giants. US President George W. Bush has signaled his readiness to sign a bill that would gradually phase
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The US Senate has given final approval to a corporate tax break bill, offering around $137 billion in new tax breaks to businesses. The bill is intended to bring the US into compliance with a World Trade Organisation ruling by ending a tax subsidy known as the Foreign Sales Corporation
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The European Commission has announced the approval of a project to facilitate and promote trade flows between Mexico and the European Union (EU), with an investment of 16 million euros (US$19.7 million). The project aims to strengthen government institutions responsible for various activities under the EU-Mexico Free Trade
