Mexico and Argentina to deepen economic accord

The ACE 6 lowers tariffs on some products and includes a number of principles regulating trade
Mexico's Economy Minister Ildefonso Guajardo (left) and Foreign Affairs Minister of the Argentine Republic Jorge Faurie – Phot: Taken from: Jorge Faurie Twitter account
13/12/2017
17:49
Francisco Jueguen GDA/La Nación
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Mexico's Economy Minister Ildefonso Guajardo, invited by the Argentine Ministry of Production for the Eleventh Ministerial Conference (MC11) Business Forum of the World Trade Organization (WTO), noted that Argentina and Mexico can deepen their commercial exchange of manufactures and agricultural production.

On Twitter, Mexico's Economy Ministry wrote in Spanish: "Economy Minister Ildefonso Guajardo participated in the Business Forum "Fostering Internationalization: Micro, Small and Medium Enterprises in Global Trade", organized by the ICC, WEF, B20, and the Government of Argentina."
 

"There is a complementarity between the manufacturing capabilities of Mexico and the agricultural capabilities of Argentina, cars, and grains," Ildefonso Guajardo said.

"Mexico is negotiating extensions of an important fashion of our commercial preferences with Argentina to boost our ACE 6 and the automotive agreement and maximize our potential and our economic relationship," added Guajardo.

The ACE 6, as the treaty is called in Spanish, lowers tariffs on some products and includes a number of principles regulating trade. It has been in effect since 1987, though leaders have attempted to renegotiate aspects in recent years.

On Twitter, Foreign Affairs Minister of the Argentine Republic Jorge Faurie wrote in Spanish: "Meeting with Mexico's Economy Minister Ildefonso Guajardo, we talked about our important bilateral relationship."

From August 7 to 10 of this year, in Mexico City, the Third Round of Negotiation was held for the expansion and deepening of the Agreement of Economic Complementation between the Argentina and Mexico (ACE 6). The negotiation sought to "improve access to products already included in the Agreement through tariff reductions, simplification of technical and health requirements,” as indicated by the Argentine Foreign Ministry.

The automotive industry in Argentina is against expanding the bilateral bond with Mexico since they consider that it is impossible to compete with that country, which has much lower costs.

However, Argentina believes that it can improve the commercialization of agricultural products in Mexico.

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