India Mexico Free Trade Agreement

An interactive list of bilateral and multilateral free trade instruments can be find on the TREND Analytics website. [59] One of the EPO`s objectives between Mexico and Japan was to restore the competitiveness of Japanese companies in the Mexican market. Mexico already had free trade with the United States and Canada under NAFTA and the European Union. Both agreements had penalized Japanese companies because of different legal rates and the exclusion of Japanese companies from public works projects in Mexico. Mexico concluded the agreement to increase Japanese investment in Mexico, creating jobs, expanding Mexican exports to Japan, expanding technology transfers from Japan and strengthening the competitiveness of Mexican industry25. On the other hand, uniform tariffs are applied to countries that are not members of a free trade agreement, but are still trade – trade between China and the United States is a good example. A third-party source sets these rights, usually the World Trade Organization (WTO), and applies on a case-by-case basis. Notes: the definition of a free trade area within the WTO is a group of two or more customs territories in which tariffs and other restrictive trade rules (with the exception of tariffs allowed by Articles XI, XII, XIV, XV and XX of the GATT) and other restrictive trade rules are essentially removed for all trade between the relevant territories. In 2016, Mexico`s main export products were passenger cars, spare parts, motor vehicles for freight transport, automatic data generation machines and electrical devices for telephones. The main import products were automotive parts, refined petroleum products, integrated electronic circuits, telephone electrical appliances and automatic data processing machines (see Table 2). Since trade liberalization, Mexico`s trade with the world has grown rapidly, with exports growing faster than imports.

Mexico`s exports to all countries increased by 515% between 1994 and 2016, from $60.8 billion to $373.9 billion (see Chart 2). Although the economic downturn led to a decline in the value of exports in 2009, exports picked up in subsequent years. Mexico`s imports from all countries increased from $79.3 billion in 1994 to $387.1 billion in 2016, an increase of 388%. Mexico`s trade balance has grown from a deficit of $18.5 billion in 1994 to surpluses of $7.1 billion in 1995 and $6.5 billion in 1996.