Beyond Brexit—UK-Mexico trade continuity agreement signed

Beyond Brexit—UK-Mexico trade continuity agreement signed

The UK and Mexico signed a trade deal on 15 December 2020. The UK-Mexico Trade Continuity Agreement is designed to provide certainty for UK and Mexican businesses trading goods and services that make up the bilateral trade relationship, which accounts for more than $US 5bn dollars per year and will to benefit the sectors where the UK has the highest amount of trade with Mexico such as: automotive, pharmaceutical, textiles, agriculture, food and drink industries and other manufacturing industries. Both the UK and Mexico have committed to start negotiating a new and ambitious free trade agreement in 2021, which will go 'much further' than the existing deal. This agreement represents another step towards the UK’s accession to the Comprehensive and Progressive agreement for Trans-Pacific Partnership.

Sources:

• UK and Mexico sign trade deal

• Joint Statement by the UK and Mexico

For further detail, see: LNB News 16/12/2020 13.

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