Mexico eyeing closer economic ties with Vietnam

As the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is expected to be signed on March
Mexican and Vietnamese flags are seen - Photo: Taken from Presidencia México Twitter account
24/02/2018
13:07
Ivette Saldaña
Mexico City
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Even though the Trans-Pacific Partnership (TPP) now restructured into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be signed on March 8, Mexico is eyeing closer economic ties with some countries, such as Vietnam in the automotive and textile industries in particular, disclosed Mexico's Economy Minister Ildefonso Guajardo on Friday.

"We are currently discussing so we can reach an agreement," particularly regarding the most sensitive sectors in the country, he added.

The CPTPP, a planned trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam will reach Mexico's Senate as soon it is signed in Chile next month.

On Twitter, Ildefonso Guajardo wrote in Spanish: I thank the Senate for the meeting held today, to further analyze the scope of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership negotiations.”

It should be noted that Mexico decided to continue within the so-called TPP 11, on the condition that both the progressive agenda setting labor and environmental commitments and current market access remains unchanged.

On November, ministers from TPP countries met in the resort of Danang in Vietnam on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit to discuss how to proceed with the deal after the United States withdrew.

sg

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