UK and Mexico trade agreement develops

In December, the UK and Mexico Trade Continuity Agreement was signed by the Secretariat for the Economy which will create new commercial opportunities for both nations. In an interview with MILENIO the UK Ambassador to Mexico, Corin Robertson, outlined how the Mexico-UK trade relationship is expected to develop. The key points mentioned are as follows:

• Bilateral trade between the two countries stands at almost 7 billion dollars, an equal balance of exports and imports for Mexico. The most important sectors include the agricultural, automotive, manufacturing, pharmaceutical and food and drink industries.

• Despite general uncertainty surrounding UK international commerce since the referendum back in 2016, there has been a 7% increase in trade between the UK and Mexico annually. Therefore, with an improved deal this commercial relationship is expected to grow further.

• The new agreement provides the two nations as well as British and Mexican companies with the certainty that the trading of goods and services can continue

• Duty-free trade has been ensured for both Mexican and UK firms, this also benefits consumers from both countries too.

• The UK regards Mexico as an economy with a lot of potential and a particular goal of theirs is to increase British investment in the country.

For more information, read the full interview in Milenio here: https://www.milenio.com/negocios/pese-brexit-covid-crece-7-comercio-reino-unido-mexico-corin