Mexico formally entered the TPP
Categories: U.S. Legislatitive Issues, Top Stories |
Author: Mike Williams
Posted: 10/10/2012 |
On October 8, 2012, Mexico formally joined the Trans-Pacific Partnership Agreement (TPP) as a full negotiating member once the other countries finished their internal procedures to accept new members. This important achievement in Mexico’s trade policy has been the result of an intense effort, which began in November 2011, when Mexico expressed interest in being part of this negotiation.
Following the meeting between President Barack Obama and President Felipe Calderon within the framework of the G-20 Summit, held in Los Cabos last June, TPP participating countries extended an invitation to Mexico to join the Agreement. This membership will allow Mexico to fully participate in the negotiations and ensure that its interests are being considered in the discussions.
The 15th round of negotiations will be held from December 3rd to 12th in Auckland, New Zealand. Previously, Mexico will host an inter-sessional meeting, which is expected to take place in November with the participation of all TPP members.
The TPP is currently the most relevant and ambitious plurilateral trade negotiation due to the wide range of topics and disciplines included as well as the number of participating countries. In 2011, the TPP countries accounted for 18% and 15% of the world’s imports and exports, respectively, as well as 26% of the global GDP.
For Mexico, the TPP has a strategic value since it represents a platform to enhance trade integration in the Asia-Pacific region. It gives Mexico the opportunity to continue diversifying its exports and strengthen global supply chains with the U.S. and the Asia-Pacific which is currently the world's most dynamic region.
Source: NAFTA Works