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The UK and Mexico establish formal negotiations for a New Free Trade Agreement.
In recent weeks, UK and Mexico have established formally negotiations towards a new Free Trade Agreement. Both countries will carry on talks on July 11, 2022, in a first round and second round expected to take place at the end of the 2022.
It is important to highlight that according to Mexican authorities, there are more than 2,000 British companies established in Mexico which represents a significant source of foreign investment in the country. Geographically, Mexico it is not only one of the major overseas markets for British exporters, but also represent a relevant entrance to Latina America and the Transpacific region.
This new deal seeks to enhance the current business relation between both parties but at the same time, the objective is to shift to a digital economy by Increasing trade flow in sectors such as financial and technology fields
That is why some of the most important subjects on the negotiation table are digital trade, cross-border data flows and e-commerce.
Besides the geographical matters, the Department for International Trade of the United Kingdom have mentioned the relevance of the Mexican young increasing population, expected to grow around the 150 million of people towards 2035. This numbers could represent a significant increment in imports in around 35 %, therefore, the importance of the Mexican market for British exporters willing to expand their brands globally.
Both parties have pointed out that one of the strategies to achieve their goals is based on the facilitation of labor force between countries, so the key factor to improve is the need of an appropriate business mobility system.
It is remarkable to emphasizes that last June 2021, Mexico and the UK signed up the Trade Continuity Agreement that their main objective was to continue the trade facilitation between countries after Brexit and now it is the perfect opportunity to enhance and innovate their international relations.
En recientes semanas, el Reino Unido y México han establecido negociaciones formales hacia un nuevo Tratado de Libre Comercio. Ambos países llevaran a cabo platicas el 11 de julio del 2022 en una primera ronda y una segunda ronda que se espera se realice a finales del 2022.
Es importante señalar que, de acuerdo con las autoridades mexicanas, existen mas de 2 mil empresas británicas establecidas en México, lo que representa una significativa fuente de inversión extranjera en el país. Geográficamente, México no es solo el mayor mercado extranjero para exportadores británicos, sino que también representa una relevante entrada al mercado latinoamericano y a la región transpacífica.
Este nuevo acuerdo busca fortalecer la actual relación comercial entre ambas partes, pero a su vez, el objetivo es cambiar a una economía digital incrementando el flujo comercial en sectores como el financiero y tecnológico.
Es por ello por lo que uno de los aspectos más importantes en la mesa de negociaciones es el comercio digital, el flujo de información transfronterizo y el comercio electrónico.
Adicional a los aspectos geográficos, el Departamento de Comercio internacional del Reino Unido ha mencionado la relevancia del incremento poblacional de los jóvenes mexicanos, la cual se espera que crezca alrededor de los 150 millones de personas para el 2035.
Estos números podrían representar un incremento significativo en alrededor del 35% en importaciones, de ahí la importancia del mercado mexicano para los exportadores británicos dispuestos a expandir sus marcas a nivel global.
Ambas partes han señalado que una de las estrategias para lograr sus objetivos se basa en la facilitación del trasiego de fuerza laboral entre los países; así que el factor clave es atacar la necesidad de establecer un modelo apropiado de movilidad de negocios.
Cabe destacar, que el pasado junio del 2021, México y el Reino Unido firmaron el acuerdo comercial de continuidad cuyo principal objetivo era extender las facilidades comerciales entre ambas naciones posterior a Brexit y es ahora cuando se presenta la perfecta oportunidad para fortalecer e innovar las relaciones internacionales.
Contributor: Irving Zamora
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